Tennessee Closing Cost Calculator
Estimate Tennessee closing costs for buyers and sellers. Transfer tax: 0.37%. Average total: 2.6% of price.
How This Calculator Works
Calculation methodology and assumptions
Closing costs in Tennessee 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 (0.37% in Tennessee), recording fees, loan origination fees (1% of loan), appraisal, inspection, and escrow/prepaids. Tennessee does not require an attorney for closings, though one is recommended.
Frequently Asked Questions
How much are closing costs in Tennessee?
Closing costs in Tennessee average 2.6% of the purchase price. On a $310,000 home, that's approximately $8,060.
Does Tennessee have transfer taxes?
Yes, Tennessee has a transfer tax of 0.37% of the sale price. On a $310,000 sale, that's $1,147.
Do I need an attorney to close in Tennessee?
No, Tennessee does not require an attorney for real estate closings, though having one is recommended for complex transactions.
Who pays closing costs in Tennessee?
In Tennessee, 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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