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Closing Costs in McLean, VA
Calculate closing costs for McLean, VA real estate. McLean is one of the most affluent communities in the DMV with a median home price exceeding $1.2 million. Higher purchase prices mean closing costs require careful planning.
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Local Taxes & Fees in McLean, VA
McLean falls within Fairfax County, which charges an additional recordation tax of $0.10 per $100 beyond the state rate. With McLean's premium home values — many transactions exceed $1 million — this local tax adds meaningful cost. On a $1.2M home, Fairfax County's local recordation tax alone adds $1,200. Title insurance premiums also scale with property value, making a precise closing cost estimate essential for McLean buyers and sellers.
Frequently Asked Questions — McLean, VA Closing Costs
How much are closing costs in McLean, VA?
Closing costs in McLean, VA typically range from 2% to 5% of the purchase price for buyers and 1% to 3% for sellers. For a $500,000 home, expect $10,000–$25,000 in buyer closing costs. Exact amounts depend on loan type, title insurance choices, and Fairfax County recording fees.
Who pays closing costs in McLean, Virginia?
Both buyers and sellers pay closing costs in Virginia. Buyers typically cover title insurance, loan fees, recording fees, and prepaid items. Sellers pay the grantor tax, their settlement fee, and agent commissions. In McLean, some costs are negotiable between parties.
What is the grantor tax in Virginia?
The Virginia grantor tax is $0.50 per $500 of the sale price (effectively 0.1%). This is paid by the seller at closing. On a $500,000 home, the grantor tax is $500.
Does McLean have additional local transfer taxes?
Fairfax County may have additional local recordation taxes on top of Virginia's state rate. Contact Pruitt Title LLC for the exact rates applicable to your transaction in McLean.
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Need a Precise Closing Cost Estimate?
These are estimates based on standard Fairfax County rates. Every transaction is different — contact Will Rapuano at Pruitt Title LLC for an accurate, line-by-line closing cost breakdown for your McLean, VA property.