South Dakota Closing Cost Calculator
Estimate South Dakota closing costs for buyers and sellers. Transfer tax: 0.1%. Average total: 2.6% of price.
How This Calculator Works
Calculation methodology and assumptions
Closing costs in South Dakota typically range from 2.1% to 3.1% of the purchase price. This calculator estimates individual line items including title insurance (0.5% of price), transfer taxes (0.1% in South Dakota), recording fees, loan origination fees (1% of loan), appraisal, inspection, and escrow/prepaids. South Dakota does not require an attorney for closings, though one is recommended.
Frequently Asked Questions
How much are closing costs in South Dakota?
Closing costs in South Dakota average 2.6% of the purchase price. On a $270,000 home, that's approximately $7,020.
Does South Dakota have transfer taxes?
Yes, South Dakota has a transfer tax of 0.1% of the sale price. On a $270,000 sale, that's $270.
Do I need an attorney to close in South Dakota?
No, South Dakota does not require an attorney for real estate closings, though having one is recommended for complex transactions.
Who pays closing costs in South Dakota?
In South Dakota, both buyers and sellers have closing costs. Buyers typically pay loan-related fees, appraisal, inspection, and their share of prepaids. Sellers usually pay real estate agent commissions and their share of transfer taxes. Some costs are negotiable between the parties.
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