Missouri: A state with some of the lowest closing fees in the Country (Oct 2008)

Bankrate.com recently released their latest survey on MSN.com: Where you'll pay the lowest loan fees

In each state, they requested a good faith estimate based on a $200,000 mortgage, assuming a 20% down payment and good credit. New York ranked the highest and North Carolina ranked the most economical.

Missouri ranked 3rd in the cost comparison chart, with some of the lowest fees in the country.

While an attorney in Missouri will prepare the deed, it is not common in South Central Missouri for an attorney to actually attend closing. In fact, in all the years I've been in real estate, I cannot remember one time when an attorney was present at a closing. This is very, very different from Illinois, where I moved from. There our attorney reviewed the offer and the contract on our home before we ever handled any of the paperwork!

A few factors to consider in Missouri:

• Low state and local taxes.
• Reasonable appraisal fees.
• Reasonable title insurance premiums.
• Reasonable title company fees. (most companies are locally owned)
• Low to no attorney fees.

Now continues to be the time to BUY real estate in Missouri. Now continues to be the time to SELL real estate in Missouri.


United Country VIP Realty serves Marshfield MO and all of Webster County; Lebanon MO and all of Laclede County and Buffalo MO and all of Dallas County. Our experiences are based on this area and may not be the same as agents in the more urban areas of St. Louis and Kansas City.