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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Delaware Closing Costs Breakdown
Closing costs in Delaware typically range from 3% to 5% of the home's purchase price. For a median-priced home of $400,000, buyers can expect to pay between $12,000 and $20,000 at closing. Delaware has one of the highest transfer tax rates in the nation at a combined 4% of the sale price, which is a major driver of closing costs for both buyers and sellers.
Transfer Taxes & Fees
Delaware charges a Realty Transfer Tax of 4% of the property's sale price, split equally between the buyer and the seller at 2% each. On a $400,000 home, each party pays $8,000 in transfer tax alone. Some counties and municipalities add their own local transfer fees on top of the state rate. This 4% combined transfer tax makes Delaware one of the most expensive transfer tax states in the country.
Attorney Requirements
Delaware is an attorney-closing state, and a licensed real estate attorney is required to oversee all real estate closings. Attorney fees for a standard residential closing typically range from $750 to $1,250 for uncomplicated transactions. Both buyers and sellers should budget for attorney fees as a non-negotiable closing cost. The attorney ensures all legal documents are properly prepared and executed.
Local Quirks & Need-to-Know
Delaware's 4% total transfer tax split 50/50 between buyer and seller is a major closing cost that surprises many buyers. First-time homebuyers may be eligible for a partial exemption on the state portion of the transfer tax. Delaware has no sales tax and very low property taxes, averaging 0.50% of assessed value annually, which partially offsets the high transfer tax burden over the long term of homeownership.