Buying in Greenwich? The purchase price is only part of the check you write. Closing costs can catch you off guard, especially in a high-price market where many fees scale with the home’s value. You want clarity on what you will owe, who charges each fee, and how to avoid last-minute surprises.
You are not alone if the details feel complex. In Connecticut, attorneys lead most closings, and your lender’s disclosures carry a lot of weight. With the right plan, you can stay organized, spot negotiable items, and protect yourself from common pitfalls.
This guide breaks down typical buyer closing costs in Greenwich, what affects the total, how to plan your timeline, and practical ways to save. Let’s dive in.
What closing costs cover in Greenwich
Greenwich sits in a high-price suburban and coastal market. That means any cost that scales with purchase price can be larger in absolute dollars than in lower-priced towns, even if the percentage is similar. Title insurance, lender points, and escrow deposits are common examples.
Connecticut closings are attorney-led. Your attorney coordinates title, escrow, and the closing instruments. Plan to budget for legal fees and ask for a written estimate that explains what is included.
If you are financing, federal rules help you track costs. Your lender must provide a Loan Estimate within three business days of application and a Closing Disclosure at least three business days before closing. These documents are your authoritative breakdown of financing-related closing costs.
Certain items vary by town. Recording fees and local forms come from the Town of Greenwich. Confirm the latest requirements with the Town Clerk, and coordinate with your attorney to verify exact charges.
Typical buyer costs, line by line
Attorney and settlement fees
Your attorney prepares and reviews documents, oversees title examination, manages escrow and disbursement, and coordinates recording. In Connecticut, buyers commonly pay their own attorney’s fee. Firms often charge a flat or tiered flat fee. Request a written quote early and ask what is included, such as prorations, payoffs, and municipal coordination.
Lender fees
If you are financing, you may see origination, processing, underwriting, credit report, rate-lock, discount points, and loan program fees. Your lender must list these on your Loan Estimate and then on the Closing Disclosure. Comparing lenders and negotiating origination and points can reduce your costs.
Appraisal and inspections
Expect to pay for a lender-ordered appraisal and any inspections you choose, such as general home inspection, wood-destroying insect, septic, well, or HVAC. Inspections are usually paid up front. Keep your reports organized, since findings may lead to repair requests or credits.
Title insurance
Title insurance protects against covered title defects. Buyers usually pay for the lender’s policy because it insures the mortgage. The owner’s policy can be paid by either party depending on local custom and the purchase contract. Premiums scale with purchase price, so ask your attorney or title provider for an early quote and confirm who pays for the owner’s policy in your contract.
Recording and Town Clerk fees
Recording fees cover the deed and mortgage filings plus copies and certified documents. Buyers typically pay to record the mortgage, while deed recording responsibilities can be negotiated. Check the Town of Greenwich fee schedule through your attorney to confirm the latest amounts and any required forms.
Transfer and conveyance taxes
Real estate transfers can trigger state-level conveyance taxes, and municipalities may have additional fees. Who pays can depend on both local custom and contract terms. Your attorney can confirm current rules through the state and the Town of Greenwich and help you allocate payment in the contract.
Escrows and prepaids
Your lender may require upfront escrow deposits for property taxes and homeowner’s insurance. If you are buying a condo or a home in an association, confirm any transfer or estoppel fees and whether there are scheduled dues or assessments. Ask for the association’s estoppel information early to avoid delays.
Surveys and municipal certificates
A survey may be needed or negotiated, and municipal certificates may be part of the closing package. Responsibility varies by contract. Your attorney will confirm what is required for your specific property and who pays for each item.
Miscellaneous fees
You may also see wire transfer fees, overnight courier charges, document preparation, and notary fees. These smaller line items are common and usually paid by the buyer when used for the buyer’s funds or documents.
How much to budget
There is no one-size-fits-all number. Nationally, buyers often pay a share of closing costs equal to roughly 2 to 5 percent of the purchase price, but totals vary widely by loan type, who pays for the owner’s title policy, and escrow requirements. In Greenwich, expect higher absolute dollar amounts due to home prices.
Your most reliable sources are your Loan Estimate and your final Closing Disclosure, plus written quotes from your attorney and title provider. Ask for these early, and update your estimates if the transaction terms change.
Negotiation and savings
You may be able to lower costs with a focused plan:
- Seller concessions. You can request the seller pay certain buyer costs, such as a portion of closing costs or the owner’s title policy. In competitive Greenwich deals, concessions may be limited, so align your ask with market conditions.
- Shop lenders. Compare Loan Estimates from several lenders. Review origination, points, and rate options side-by-side.
- Compare title and settlement providers. Title premiums are set by the insurer, but closing and escrow fees can vary. Ask for itemized quotes and confirm any endorsements.
- Attorney quotes. Request written fee outlines and compare what each firm includes, such as coordination of payoffs, municipal certificates, and recording.
Avoid surprises and pitfalls
A few practical moves can save you time and stress:
- Review disclosures early. Read the Loan Estimate and the Closing Disclosure line by line. You must receive the Closing Disclosure at least three business days before closing when you have a loan.
- Confirm who pays the owner’s policy. Do not assume the seller will pay. Make sure the contract is explicit and your attorney agrees with the allocation.
- Verify town fees. Ask your attorney to confirm the Town of Greenwich recording fees and any local requirements well before closing.
- Get HOA and assessment details early. Request the estoppel letter promptly and ask about any scheduled special assessments or move-in charges.
- Understand tax prorations. Confirm the property tax schedule with your attorney so bills and prorations are accurate at closing.
- Protect your wire. Wire fraud is a real risk. Only use wiring instructions you verify by phone using a known, independently sourced number.
Timeline and what to expect
Here is a practical way to pace your closing:
- Early stage: After you have a signed contract, schedule inspections, apply for your loan, request your Loan Estimate, hire your attorney, and start the title search.
- Mid stage: Obtain the appraisal, finalize loan terms, secure HOA documents and the estoppel if applicable, and review the title commitment.
- Pre-closing: Expect your Closing Disclosure at least three business days before closing. Confirm final funds needed with your attorney, verify wire instructions by phone, and set the closing date and location.
- Closing day: Sign documents, deliver funds, and your deed and mortgage are recorded. Keys are delivered per the contract.
Helpful items to have ready include a government-issued photo ID, your homeowner’s insurance binder, the exact funds to close, and any HOA or condo documentation your attorney requests.
Working with a local advisor
Greenwich deals reward preparation. You want an advisor who blends local knowledge with disciplined process. A seasoned agent can help you set expectations on who pays for title policies, refer trusted attorneys and lenders, coordinate HOA requests, and flag cost or timing risks early. The goal is simple: no surprises at the table and a smooth handoff of keys.
If you want clear, organized guidance through the closing process in Greenwich and the neighboring coastal towns, connect with a local professional who treats the details like they matter.
Ready to navigate your Greenwich purchase with confidence? Reach out to John Bainton for a practical plan, vetted referrals, and disciplined transaction management.
FAQs
How much are Greenwich buyer closing costs?
- Totals vary by loan type, price, who pays for the owner’s title policy, and escrow needs. Nationally 2 to 5 percent is a broad guide, but your Loan Estimate and Closing Disclosure, plus attorney and title quotes, are the best sources.
Who pays the owner’s title policy in Greenwich?
- It depends on local custom and your contract. In some Connecticut transactions sellers pay, in others buyers do. Confirm the allocation in your agreement and with your attorney.
Are there Connecticut transfer or conveyance taxes?
- Yes, state conveyance taxes apply and some municipalities may have additional fees. Your attorney can confirm current rules and whether the buyer or seller pays under your contract.
What do Connecticut attorneys handle at closing?
- They coordinate title review, prepare and review documents, manage escrow and disbursement, and record the deed and mortgage. Ask for a written fee estimate outlining exactly what is included.
How can I avoid wire fraud when sending funds?
- Call your attorney or settlement agent using a known phone number to verify wiring instructions. Do not rely solely on emailed details before initiating any wire.
When do I get the Closing Disclosure and what should I check?
- Your lender must provide it at least three business days before closing. Review every line, confirm cash to close, interest rate and fees, and verify any seller credits.
Will I owe HOA or condo fees at closing in Greenwich?
- You may need to fund prorated dues, transfer or estoppel fees, and any scheduled assessments per the HOA. Request the estoppel early to confirm amounts and timing.
