Anyone know what the average closing cost percentage is for raw land? I’ve heard 5%, but not sure if that’s accurate.

Closing cost is a broad term but we always figure in 1% of the total cost. This is just title and misc. fees and does not include survey costs, commissions, etc.

I always figure as txtrophy85 said, 1% for title and fees, then if needed you have to add survey and commissions.

I tell people to expect 1-2% total closing costs (survey & appraisal) included in this. Appraisal prices will shock you. I had to get 95 acres appraised and the lowest quote we got was $5,500 and survey was $1200. This was a $900,000 sales price, with title work and title insurance, along with misc fees, we were right on that 2% number.

You can always ask for the seller to contribute $$$ or cover title work.