Closing costs in Oklahoma: what buyers and sellers pay

Why there is no single “typical” total

The government-set pieces can be computed exactly. Others are charged by private companies: lender fees, appraisal, inspection, survey, title insurance, the closing company and brokerage compensation. Prorated property taxes and escrow deposits depend on the house, the closing date and the loan.

The variable pieces show up on two federal forms. The lender must deliver the Loan Estimate not later than the third business day after it receives your application. The Closing Disclosure must reach you no later than three business days before closing (12 CFR § 1026.19(e) and (f)). For a general walk-through, see closing costs explained.

Line by line: what each cost is

Documentary stamp tax. The state taxes the deed at $0.75 per $500 of consideration or part of $500. The statute puts the duty on the person who makes, signs or sells the deed. See our Oklahoma transfer tax page for exemptions.

Mortgage tax. On a mortgage for five years or more, the tax is $0.10 per $100 or fraction. Shorter terms pay less, from $0.08 down to $0.02. The county treasurer also charges $10 to certify each mortgage. The statute lets the borrower, the lender or another interested party pay it.

Recording fees. County clerks charge uniform state fees: $8 for the first page of a deed or mortgage, $2 for each additional page, and $10 more per instrument for records preservation (28 O.S. § 32). Instruments that do not meet the recording format rules cost $25 for the first page and $10 for each additional page.

Title evidence and title insurance. The Oklahoma Real Estate Commission’s guide to the state contract says the seller makes the abstract of title available to the closing company, and the buyer, at the buyer’s expense, may get a title insurance commitment or an attorney’s title opinion. It notes that a lender’s policy protects the lender, not you, and that an owner’s policy “costs little more.” Payotte found no state-published premium schedule for Oklahoma, so the quote on your Loan Estimate is the figure to use. See title insurance explained.

Lender, appraisal and inspection fees. These are not set by Oklahoma law. Compare them on the Loan Estimate. For typical ranges, see home appraisal cost and home inspection cost. A boundary survey is a buyer’s cost if requested; the Commission advises asking the closing company which survey fits your deal.

Prorated property tax. The state contract guide says that, in calculating tax and assessment prorations, the day of closing is the seller’s responsibility. Oklahoma bills are due November 1 and can be paid in two halves (see Oklahoma property tax). If your lender escrows taxes, expect a deposit at closing; see escrow account.

Brokerage compensation. Not fixed by law. See real estate commission.

Who pays what

The guide is the Commission’s 2024 explanation of its contract. Your signed contract controls.