Buying in Franklin’s 37064 and wondering how much cash you’ll actually need at the closing table? You are not alone. Closing costs can feel confusing because they bundle fees, prepaid items, and a few local quirks. In this guide, you’ll learn what buyers in Williamson County typically pay, how to estimate your total, and which questions help you lock down accurate numbers. Let’s dive in.
What closing costs include
Closing costs are the fees and prepaid items needed to complete your purchase, separate from your down payment. For most buyers, a safe planning range is 2% to 5% of the purchase price. Your loan type, timing, and local title and recording charges can shift your final number. Your lender and title company will provide early estimates, then a final Closing Disclosure three business days before closing.
Who pays what in Williamson County
Local practice in Williamson County follows common Tennessee customs, but details can vary by contract and company. Sellers typically pay the real estate commission and their own settlement items. Buyers usually pay lender-related and inspection costs, plus most prepaids. Confirm responsibilities in the purchase agreement and with your title company.
Buyer costs you’ll likely see
- Lender fees such as origination, underwriting, and processing
- Appraisal fee
- Credit report fee
- Inspections you choose, like home, termite, sewer, or radon
- Title-related items: lender’s title policy, title search, settlement or closing fee
- Recording and filing fees charged by the county
- Prepaid items and escrows: homeowners insurance, prorated property taxes, prepaid interest, and initial escrow deposits
- Mortgage insurance or program fees if applicable, such as PMI or FHA/VA/USDA upfront fees
- HOA transfer-related fees if the home is in an association
Seller costs you may see
- Real estate commission paid by the seller in most Tennessee transactions
- Owner’s title insurance policy is often paid by the seller in many local deals, but it is negotiable
- Payoff of any mortgages, liens, and release fees
- Prorated property taxes and HOA dues based on the closing date
Negotiated items to watch
- Who pays for owner’s title insurance
- Seller credits toward buyer closing costs
- HOA transfer or estoppel fees
- Repairs after inspections
- Discount points to lower your mortgage rate
How much to budget
The largest driver of your closing costs is your purchase price. The percentage range is fairly consistent, but the dollar amount scales up with price. Prepaids for taxes and insurance can make your total look higher in some months and lower in others.
Quick rules of thumb
- Plan for 2% to 5% of the purchase price for buyer closing costs, not including your down payment.
- Prepaids for taxes, insurance, and interest can add several hundred to several thousand dollars depending on timing.
- Seller costs usually include a commission around 5% to 6%, plus owner’s title insurance if the seller pays it, and payoff amounts.
Examples at common price points
These middle-of-the-road examples assume buyer closing costs around 3% for easy planning. Your actual figures will come from your lender and title company.
- $500,000 purchase: estimated buyer costs about $15,000
- $750,000 purchase: estimated buyer costs about $22,500
- $1,000,000 purchase: estimated buyer costs about $30,000
How to estimate your total
A clear process will get you to a reliable number early, which helps you set expectations and negotiate with confidence.
Step-by-step estimate
- Step 1: Confirm your target price range and loan program.
- Step 2: Request Loan Estimates from at least two lenders so you can compare lender fees, prepaids, and cash-to-close.
- Step 3: Ask a local title or closing company for a preliminary settlement estimate that includes title fees, recording fees, and who usually pays for owner’s title insurance on similar transactions.
- Step 4: Add inspection and appraisal fees, plus any HOA transfer charges if applicable.
- Step 5: Subtract any seller credits negotiated in your contract.
- Step 6: Add a small buffer, typically 200 to 500 dollars, for last-minute adjustments.
Timing and closing window
Most financed purchases close in about 30 to 45 days. A shorter window can trigger rush fees for appraisals or documents. Longer closings can change your prepaid interest and insurance timing. Your lender will update the timeline if anything shifts during underwriting.
Local fees and recording details
Williamson County sets recording procedures and fee schedules, which can change. Your title company will calculate the exact recording costs for the deed and mortgage and handle payment at closing. Property taxes are prorated based on your closing date and local billing cycles. If the home is in an HOA, plan for transfer and document fees that can affect both cost and timing.
Buyer checklist
Use this checklist to stay on track from contract to close.
Gather early
- Mortgage pre-approval and loan program details
- Photo ID, Social Security number, and proof of funds
- Signed purchase contract and addenda noting any seller credits
- HOA contact information if applicable
Ask your lender
- Please provide a Loan Estimate with all fees, prepaids, and cash to close.
- Which fees are refundable if the loan does not close?
- What are the estimated prepaids for taxes, homeowners insurance, and escrow deposits?
- Are discount points available, and what is the breakeven on paying points?
- Do you charge underwriting, processing, funding, or document fees? Please itemize.
- What is the maximum seller concession my loan program allows?
Ask the title or closing company
- Please share a preliminary settlement estimate with itemized title charges and Williamson County recording fees.
- Who typically pays owner’s title insurance in recent local transactions?
- What are the recorder’s fees per document and any transfer or filing charges?
- Do you handle HOA estoppels and transfer letters, and who usually pays those fees?
- When will you perform the title search and send a preliminary title report?
- Who holds escrow or earnest money, and how is it applied at closing?
Ask your agent and the seller
- Has the seller agreed to provide owner’s title insurance or credits toward closing costs?
- Are there known assessments, unpaid HOA balances, or special tax districts?
- What closing timelines work for the seller, and are there any HOA or neighborhood steps that could affect timing?
Review your Closing Disclosure
You will receive a Closing Disclosure at least three business days before closing. Review it line by line. Confirm your cash to close, lender fees, title and recording charges, prorated taxes, prepaids, and any seller credits. Ask your lender or title company to correct any unexpected items.
Next steps
If you are comparing Franklin, Brentwood, and Thompson’s Station, run the same 2% to 5% estimate at each price point. Then refine your numbers with a Loan Estimate and a title fee quote. With clear estimates in hand, you can negotiate seller credits and timelines that fit your goals. If you want local guidance tailored to your budget and neighborhood plan, connect with Janelle Waggener for a personalized strategy.
FAQs
What are typical buyer closing costs in Franklin 37064?
- Most buyers should plan for about 2% to 5% of the purchase price, not including the down payment.
Who usually pays owner’s title insurance in Williamson County?
- The seller often pays for the owner’s policy in many local deals, but it is negotiable and must be set in the contract.
Which fees are prepaids versus hard costs?
- Prepaids include property taxes, homeowners insurance, and prepaid interest, while hard costs include lender fees, appraisal, title charges, and recording.
Can I use seller credits to cover my closing costs?
- Often yes, but the amount is limited by your loan program and what you negotiate in your contract.
When will I know my final cash to close?
- You will receive a Loan Estimate early and a final Closing Disclosure at least three business days before closing that shows your exact total.