Closing on a home in Virginia
The taxes, the closing rules, and the programs Virginia buyers and sellers are entitled to — whether anyone at the table mentions them or not.
The Virginia basics
Layered recordation taxes: the buyer typically pays state deed recordation tax ($0.25 per $100) plus a local third; the seller pays the grantor tax ($0.50 per $500), with additional regional taxes in Northern Virginia and Hampton Roads.
Attorneys or licensed settlement agents may close (CRESPA). You have the legal right to select your own settlement agent — Virginia says so explicitly.
Virginia Housing offers statewide down payment assistance grants (not loans — grants) for eligible first-time buyers, plus DPA second mortgages.
What to watch for in Virginia
Virginia law gives the buyer the explicit right to choose the settlement agent. If anyone tells you the closing 'has to' go through a particular company, they are wrong on the law.
Virginia's Wet Settlement Act requires funds to be disbursed within two business days of settlement — a seller waiting longer than that for proceeds should ask why.
Recordation taxes stack (state + local + regional in some metros): get the full recording-cost picture on your Loan Estimate, because it varies meaningfully by locality.
Questions Virginia buyers ask
Is there a transfer tax when buying a home in Virginia?
Layered recordation taxes: the buyer typically pays state deed recordation tax ($0.25 per $100) plus a local third; the seller pays the grantor tax ($0.50 per $500), with additional regional taxes in Northern Virginia and Hampton Roads.
Do I need an attorney to close on a house in Virginia?
Attorneys or licensed settlement agents may close (CRESPA). You have the legal right to select your own settlement agent — Virginia says so explicitly.
What down payment assistance is available in Virginia?
Virginia Housing offers statewide down payment assistance grants (not loans — grants) for eligible first-time buyers, plus DPA second mortgages.
Worth reading before any closing
- The American Home at 250 Years: A Fourth of July for Buyers and Sellers Alike
Two and a half centuries in, owning a home is the closest thing the Republic has to a birthright. The history is worth celebrating. So is understanding a transaction most Americans go through only a handful of times, inside an industry that has quietly changed the rules between visits.
- Wire Fraud Stole $275 Million From Home Buyers Last Year. Here's the Step-by-Step That Could Save Yours.
The FBI's recovery team can freeze stolen funds, but only if you act within hours. Here's what to do before, during, and after your closing.
- The $275 Million Warning: AI Scams Targeting Home Buyers and Sellers Right Now
Five specific fraud patterns are draining closing accounts across the country, here is what each one looks like and exactly how to stop it before you lose a dollar
- The Mortgage Points Trap: Why Paying Thousands Upfront to Lower Your Rate Often Backfires
Before you hand your lender $9,000 to buy down your rate, do this one calculation or you could lose thousands
- Why Builder 'Preferred' Lenders and Title Companies Often Cost You More Than They Save
That 3% rate buydown or $15,000 closing credit looks like a bonus. Here's what's actually inside it, and what the builder doesn't want you to compare.
- Wire Fraud Is Stealing Six Figures From Home Buyers. Here's Your Defense.
In 2023, criminals stole more than $145 million from real estate transactions. The FTC and FBI can help, but only if you act within hours of discovering the theft. Here's exactly what to do.