Sellers in Richmond, Henrico, Chesterfield, and Hanover typically pay grantor's tax, deed preparation, settlement fees, prorated property taxes, and HOA resale packet costs at closing. The exact total depends on your locality, sale price, HOA, and what you negotiate with the buyer. Broker fees are fully negotiable and set in your listing agreement. |
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What closing costs do sellers pay in Richmond, Henrico, Chesterfield, and Hanover, VA?
Sellers in the Richmond metro pay a specific set of closing costs at settlement: Virginia grantor's tax, deed preparation, title and settlement fees, prorated real estate taxes, and HOA resale packet fees if applicable. The exact amount varies by locality and by what you negotiate in your contract. Broker compensation is fully negotiable and set separately in your listing agreement — not by law, not by custom.
Every seller I work with asks some version of the same question before we list: "What am I actually going to walk away with?" That's the right question, and generic national closing-cost guides won't get you a real answer. Your net depends on costs that are specific to Virginia, specific to your county, and specific to your deal. Here's what I walk every seller through before we go to market.
Written by Mike Boone, Owner and Broker of Boone Residential, a Richmond, VA brokerage. Licensed by the Virginia Real Estate Board.
The Core Seller Closing Costs in Virginia
Virginia Grantor's Tax
This is the one cost that surprises most sellers. Virginia imposes a grantor's tax on the transfer of real property, governed by the Virginia Code. The state levies this tax on the grantor — typically the seller — at settlement. There's also a separate state recordation tax on the deed of trust. Who pays which portion of recordation taxes is commonly negotiated between the parties, so don't assume a national norm applies to your contract. Confirm the allocation in your specific purchase agreement with your settlement attorney or closing officer.
For the current grantor's tax rate, the authoritative source is the Virginia Department of Taxation. Your settlement company calculates the exact figure based on your sale price at closing.
Deed Preparation and Recording Fees
Someone has to prepare the new deed transferring title to the buyer. In Virginia, that's typically the settlement attorney or title company, and the fee is charged to the seller. Recording fees go to the circuit court clerk in the county or city where the property sits — Richmond City, Henrico, Chesterfield, Hanover, and Powhatan each run their own clerk's office and their own fee schedule. Your settlement company pulls the exact numbers for your jurisdiction.
Title and Settlement Fees
Virginia does not require a licensed attorney to conduct a real estate closing. Closings may be handled by a properly licensed and registered settlement agent, including a title company, title insurance agent, or attorney, in accordance with Virginia law. The seller's share of settlement fees covers the closing agent's closing fee and, in many transactions, a portion of the title search. Title insurance is typically paid by the buyer for the lender's policy, and the owner's policy is negotiable — confirm this in your contract. These fees are set by the settlement company, not fixed by statute, so they vary.
Prorated Real Estate Taxes
Virginia real estate taxes are paid in arrears or in advance depending on the locality. At settlement, taxes are prorated to the closing date. Prepaid past that date, you get a credit. Owed through closing, you owe a debit. The exact amount depends entirely on your locality's tax calendar and your closing date.
Locality | Tax Payment Cycle | Where to Verify Current Rate |
|---|---|---|
Richmond City | Two installments (June & December) | Richmond City Assessor's Office |
Henrico County | Two installments (June & December) | Henrico County Finance Department |
Chesterfield County | Two installments (June & December) | Chesterfield County Treasurer's Office |
Hanover County | Two installments (June & December) | Hanover County Treasurer's Office |
Powhatan County | Two installments (June & December) | Powhatan County Treasurer's Office |
Your settlement officer calculates the exact proration — this isn't something you estimate with precision in advance; it's calculated to the day at closing.
HOA Resale Packets, Transfer Fees & Voluntary Associations
If your property is located within a mandatory homeowners association (HOA), there may be additional documents, fees, and disclosure requirements to account for when selling your home.
Under Virginia’s Property Owners’ Association Act, Virginia Code § 55.1-1800 et seq., certain properties subject to a mandatory property owners’ association require an association resale certificate to be provided as part of the resale process. The association or its management company may charge allowable fees associated with preparing and delivering the certificate and related documents. Because Virginia law regulates these fees and requirements can change, sellers should confirm the current charges and procedures with the association, management company, or settlement attorney.
Some associations may also have transfer, administrative, capital contribution, or other fees associated with a sale. Who ultimately pays a particular fee may depend on the association documents, applicable law, and the terms negotiated in the purchase agreement. These costs should be identified early in the listing process rather than becoming a surprise at closing.
It is also important to distinguish a mandatory HOA from a voluntary homeowners association or civic association. Some established neighborhoods have voluntary organizations that residents may choose to join. For example, Salisbury in Midlothian has a voluntary civic association rather than a mandatory HOA. Membership and dues are voluntary and are not the same as mandatory assessments imposed by a property owners’ association.
A voluntary association generally does not create the same resale-certificate requirements simply because a property is located within the neighborhood. However, sellers should still verify whether their individual property is subject to any recorded declarations, covenants, restrictions, mandatory assessments, or other obligations. The existence of a neighborhood civic association does not, by itself, determine what restrictions may be recorded against a particular property.
Whether you're selling in Hallsley, Founders Bridge, RounTrey, Tarrington, Salisbury, or another community across Chesterfield, Henrico, or the Richmond area, identifying exactly what type of association governs—or serves—the property should be part of the pre-listing process. Mandatory HOA, voluntary association, or no association at all can mean very different things for disclosures, fees, restrictions, and the sale process.
Mortgage Payoff and Prorated Interest
If you carry a mortgage, your payoff at closing includes outstanding principal plus prorated interest through the payoff date. Because interest accrues daily, the payoff figure your lender quotes today won't match the amount due on your actual closing date. Your settlement company requests an official payoff statement timed to closing. Budget for a few extra days of interest if your closing date shifts.
What Changed After the 2024 NAR Settlement
The 2024 NAR settlement changed how buyer-agent compensation works in practice. Here's what every seller in the Richmond metro needs to understand as of 2026.
Broker fees and commissions are fully negotiable and not set by law. No standard rate, no customary percentage, no fixed commission — in Virginia or anywhere else. Your listing fee is whatever you and your broker agree to in your listing agreement.
Offers of buyer-agent compensation can no longer be communicated through the MLS. If you want to offer compensation to a buyer's agent, that offer happens outside the MLS — typically in the contract or a separate agreement. It's optional and separately negotiable, not an automatic seller obligation. You are not required to pay a buyer's agent's compensation. Anyone who tells you otherwise is wrong.
Buyers now sign a buyer representation agreement before touring homes. They've already had the compensation conversation with their own agent before they walk through your door. Cleaner process, fewer surprises, for everyone.
When I work with sellers at Boone Residential, compensation strategy gets discussed before we list — it's part of the pricing and positioning conversation, not an afterthought. If you want to know what makes sense for your situation in Midlothian, Chesterfield, Henrico, or Hanover, that conversation happens with me directly.
For the official framework: the National Association of Realtors® has published updated practice guides, and Virginia REALTORS® has issued guidance specific to Virginia licensees and consumers.
Related reading: 2025 Midlothian real estate market pricing trends and what sellers must know and Selling Your Home in 2026: The Prep Starts Now.
Frequently Asked Questions
Who pays closing costs in Virginia, the buyer or the seller?
Both parties pay closing costs, but different ones. Sellers typically pay grantor's tax, deed preparation, their share of settlement fees, prorated real estate taxes, and HOA resale costs if applicable. Buyers typically pay their lender's title insurance, loan origination costs, and their own settlement fees. Anything beyond the statutory defaults is negotiable and should be confirmed in your purchase contract.
What is the Virginia grantor's tax and does the seller always pay it?
A state tax on the transfer of real property, assessed at settlement and imposed on the grantor — typically the seller. The rate is set by the Virginia Code and administered by the Virginia Department of Taxation. Conventionally a seller cost, but allocation of transfer-related taxes can be negotiated — confirm your contract terms with your settlement attorney.
How much does an HOA resale packet cost in Chesterfield or Henrico?
Virginia law caps HOA resale disclosure packet fees under the Virginia Property Owners' Association Act (Virginia Code § 55.1-1808 et seq.), but the cap amounts are set by statute and can change. In practice, fees vary by management company. Confirm the current fee directly with your HOA before listing.
Do sellers have to pay the buyer's agent commission in Virginia after the NAR settlement?
No. Since the 2024 NAR settlement, sellers aren't required to offer or pay buyer-agent compensation. Any compensation a seller chooses to offer is optional and negotiated outside the MLS. Your listing fee covers your listing agent and is set in your listing agreement.
When are Richmond-area property taxes prorated at closing?
Taxes in Richmond City, Henrico, Chesterfield, Hanover, and Powhatan are prorated to the closing date. Whether you get a credit or owe a debit depends on your locality's tax calendar and how much of the current period is already paid. Ask your settlement officer for a preliminary proration estimate once you have a contract in hand.
The Bottom Line
Seller closing costs in the Richmond metro are predictable once you know the categories: grantor's tax, deed prep, settlement fees, prorated taxes, HOA costs, and mortgage payoff. What they add up to in your deal depends on your locality, your HOA, your closing date, and what you negotiate.
Want a real number, not a guide? Schedule a pre-listing consultation and I'll walk your specific numbers with you before you make any decisions.
About Mike Boone
Mike Boone is the Owner and Broker of Boone Residential, a Richmond, VA real estate brokerage where he serves as a trusted advocate for buyers and sellers and has fueled the company's growth through authentic, client-first service.
Boone Residential · 804-409-8655
Equal Housing Opportunity. Boone Residential is licensed by the Virginia Real Estate Board. This article is general information only and is not legal, tax, or financial advice. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Confirm your specific costs, tax obligations, and contract terms with your attorney, tax advisor, lender, or settlement/closing officer.
