Buyer closing costs in Missouri
- Lender fees
- Lender's title policy, and the owner's policy where the contract assigns it
- Settlement and recording fees
- Prepaid interest, insurance and the initial escrow deposit
Seller closing costs in Missouri
- Commissions, if any
- The owner's policy where assigned to the seller
- Mortgage payoffs
- Prorated property taxes
Property tax prorations in Missouri
Missouri property taxes for a year are due by December 31 of that year, so at a mid-year closing the seller usually credits the buyer for taxes from January 1 to the closing date.
Common questions
Does Missouri have a transfer tax?
No. Missouri has no state real estate transfer tax.
Who pays title insurance in Missouri?
The contract decides. Customs differ between Kansas City and St. Louis, so check your contract.