Closing costs in South Dakota
On a $500,000 home with 20% down, buyers in South Dakota typically pay about $7,663 to $18,558 at closing, including prepaid taxes and insurance.
Typical buyer total1.5%–3.7%Of the price, 20% down
Closings handled byA title or settlement companyCustomary in the state
Buyer-paid taxesNoneTransfer taxes are seller-paid or not charged
Buyer-paid taxes
| Tax | On $500,000 with 20% down | Note |
|---|---|---|
| None for buyers | $0 | South Dakota’s transfer fee ($0.50 per $500) is customarily paid by the seller. |
Estimated closing costs by price
| Price | Loan | Closing costs | Share of price |
|---|---|---|---|
| $300,000 | Conventional, 20% down | $6,138 – $14,215 | 2.0%–4.7% |
| $300,000 | FHA, 3.5% down | $6,412 – $14,978 | 2.1%–5.0% |
| $500,000 | Conventional, 20% down | $7,663 – $18,558 | 1.5%–3.7% |
| $500,000 | FHA, 3.5% down | $8,120 – $19,830 | 1.6%–4.0% |
| $750,000 | Conventional, 20% down | $9,569 – $23,988 | 1.3%–3.2% |
| $750,000 | FHA, 3.5% down | $10,255 – $25,895 | 1.4%–3.5% |
Who pays what in South Dakota
South Dakota’s transfer fee ($0.50 per $500) is customarily paid by the seller.
Questions
How much are closing costs for buyers in South Dakota?
Often about 1.5% to 3.7% of the price with 20% down, including prepaid taxes and insurance.
Do buyers pay transfer tax in South Dakota?
No. South Dakota’s transfer fee ($0.50 per $500) is customarily paid by the seller.
More for South Dakota
Sources: South Dakota Codified Laws §43-4-21. Fees are typical ranges, not quotes; your Loan Estimate lists the actual costs.