Trying to budget for closing day in Walnut Creek but not sure what you’ll actually pay? You’re not alone. Closing costs can be confusing, especially when prices in Contra Costa County make the dollar amounts feel big. In this guide, you’ll see what’s usually included for buyers and sellers, typical ranges, and how to verify the exact numbers for your transaction. Let’s dive in.
What closing costs include
Closing costs are the fees and prepaids collected by escrow to complete your home purchase or sale. They are separate from a buyer’s down payment and a seller’s net proceeds.
- Buyers: plan for about 2% to 5% of the purchase price in closing costs, depending on your loan, rate options, and prepaids.
- Sellers: plan for about 6% to 9% of the sale price, with the largest line often being agent commissions that are commonly 5% to 6% combined.
Because Walnut Creek home prices are higher than many markets, the percentage might be similar to elsewhere, but the dollar amounts are larger.
Buyer costs in Walnut Creek
Most buyer costs depend on whether you finance the purchase. Cash buyers usually pay less since there are no lender fees.
Loan and lender fees
If you use a mortgage, expect items like origination or processing fees that can run about 0.5% to 1.5% of the loan amount or a flat fee. You may choose discount points, where each point equals 1% of the loan to lower your rate. Lenders also charge for underwriting items such as application fees, credit reports, and flood checks. Those small line items often total a few hundred dollars.
Appraisal
Most lenders require an appraisal. In the Bay Area, a typical residential appraisal often ranges from about $450 to $1,000 depending on property type and complexity.
Title and escrow
You will see title insurance and escrow handling fees on your buyer statement. An owner’s title policy is optional but recommended and is a one-time premium based on the purchase price following state-regulated schedules. A lender’s policy is usually required when you finance. Escrow fees commonly fall in the hundreds to a couple thousand dollars and may be split between buyer and seller depending on local practice.
Inspections and reports
Plan for a general home inspection, often a few hundred dollars depending on size. Pest or termite inspections are common, with inspection fees usually in the low hundreds and repairs varying widely. You will also see a Natural Hazard Disclosure report, and you might order specialized inspections such as roof, sewer lateral, or septic if needed.
Prepaids and reserves
Prepaid items are not fees, but they increase your cash-to-close. You will likely prepay a portion of property taxes, your first year of homeowners insurance or a partial amount, and interest from the funding date to your first payment. Your lender may also collect 2 to 6 months of reserves for taxes and insurance into an impound account.
HOA and miscellaneous
If the home is in an HOA, expect prorated dues and possible transfer or estoppel fees. You will also see smaller items such as notary, courier, and wire fees. Always confirm wire instructions by phone with your escrow officer to prevent fraud.
Seller costs in Walnut Creek
Sellers carry different line items, and several are negotiable.
Commissions
The largest cost for most sellers is the combined listing and buyer broker commission, commonly 5% to 6% of the sale price in California. Commission is negotiable and determined by your listing agreement.
Title and escrow
Sellers customarily pay a share of escrow fees and may pay the buyer’s owner’s title policy in some California counties. Practices vary by county and by negotiation in the East Bay. Ask your escrow officer for a settlement estimate that reflects Walnut Creek norms.
Payoffs and transfer items
Your existing mortgage, HELOC, or other liens must be paid off at closing. Sellers also handle required transfer items such as reconveyance recording fees and may cover city or county transfer taxes when applicable. Responsibility for transfer tax is often guided by local custom, but it can be negotiated.
Repairs and credits
You may agree to repair items, provide a credit after inspections, or purchase a home warranty. Amounts vary with the property and negotiations.
Prorations and dues
Property taxes, HOA dues, and certain assessments are prorated to the day of closing. Utilities are typically settled via final reads and seller-to-buyer arrangements.
Property taxes and prorations
California property taxes start with a base of about 1% of assessed value under Proposition 13, plus voter-approved local assessments and parcel taxes. The tax year runs July 1 to June 30, billed in two installments with due dates that typically fall in November and February. Escrow prorates taxes so each party pays their share for the time they own the property.
Some Walnut Creek neighborhoods include Mello‑Roos or other special assessments. These appear on the preliminary title report, the Natural Hazard Disclosure, or HOA documents. Ask escrow to flag any special taxes or assessments so you can budget correctly.
Transfer taxes: verify locally
Transfer taxes vary by jurisdiction, and who pays can follow local custom or negotiation. Instead of assuming a number for Walnut Creek, confirm current documentary transfer tax rules and any city-specific taxes with your escrow or title officer. You can also check Contra Costa County offices or the City of Walnut Creek for current requirements and who typically pays.
Walnut Creek example estimate
The following is a simplified illustration to show scale. Your numbers will vary.
- Hypothetical purchase price: $1,000,000
- Buyer closing costs at 2.5%: $25,000, not including down payment
- Seller closing costs at 7%: $70,000, which could include a 5% commission of $50,000 plus $20,000 for escrow, title, transfer, and other items
If a buyer puts 20% down, they still bring the down payment plus closing costs. If the buyer’s lender requires tax and insurance impounds, add 2 to 6 months of those amounts to upfront cash needs.
How to verify your numbers
You can lock in precise figures early by asking the right people for the right documents.
- Lender: request a Loan Estimate early and a final Closing Disclosure at least three business days before closing.
- Escrow or title: ask for a Preliminary Settlement Statement for your Walnut Creek property with a clear breakdown of who pays each line.
- Escrow or title: request a title premium quote and confirmation of who customarily pays the owner’s policy and escrow fees.
- Seller: order payoff statements for any mortgages, HELOCs, or liens as soon as you list or go into escrow.
- Disclosures: review the preliminary title report, the Natural Hazard Disclosure, and HOA documents for special assessments or transfer fees.
- Local offices: confirm recording and documentary transfer requirements with Contra Costa County and the City of Walnut Creek if needed.
- Security: verify wire instructions by calling the escrow company using a known phone number before sending any funds.
Closing checklist
Use this quick list to stay organized as you approach closing.
Buyer checklist
- Obtain and review your Loan Estimate and update it if terms change.
- Schedule and complete inspections early, then budget for possible repairs or credits.
- Confirm title and escrow fee splits, owner’s policy responsibility, and any HOA transfer fees.
- Review prepaids and any lender impounds for taxes and insurance.
- Confirm wire instructions by phone with your escrow officer to avoid fraud.
Seller checklist
- Request payoff statements from all lenders and lienholders.
- Provide required disclosures promptly, including the Transfer Disclosure Statement and Natural Hazard Disclosure.
- Ask escrow for an estimated seller net sheet that includes commissions, prorations, and any transfer taxes.
- Verify any Mello‑Roos or special assessments and whether they will be paid off or assigned.
- Plan for negotiated repairs, buyer credits, or a home warranty if applicable.
Get local guidance
Every Walnut Creek transaction is unique. A clear estimate early in the process helps you avoid surprises and keeps your closing on schedule. If you want a practical walkthrough tailored to your goals, the Dana Weiler Team is here to help you budget, negotiate, and close with confidence.
FAQs
How much are buyer closing costs in Walnut Creek?
- Most buyers should budget about 2% to 5% of the purchase price for closing costs, depending on loan terms, prepaids, and escrow reserves.
Who pays title and escrow fees in Contra Costa County?
- It varies by local custom and negotiation. Many East Bay deals split escrow fees, and payment of the owner’s title policy can differ by county and contract.
When will I know my exact mortgage closing costs?
- Your lender provides a Loan Estimate early and a final Closing Disclosure at least three business days before closing that itemizes all loan-related costs and prepaids.
Does Walnut Creek have a city transfer tax?
- Transfer taxes are jurisdiction-specific and can change. Confirm current county and city requirements with your escrow or title officer before you budget.
What surprises can change closing costs in the East Bay?
- Common surprises include special assessments, HOA charges, last-minute lender conditions, or title issues that require payoff or resolution before closing.
Are closing costs lower for cash buyers in Walnut Creek?
- Yes, cash buyers typically avoid lender-related fees, though they still pay items like title, escrow, inspections, recording, prorations, and any applicable HOA or transfer charges.
