Closing costs are the fees and expenses associated with finalizing a real estate transaction. These costs are paid at the closing of a home purchase and typically include a variety of fees and charges.
TYPES OF CLOSING COSTS
Closing costs typically include, but are not limited to the following fees:
- Loan Origination Fees
- Title insurance
- Escrow Fees
- Appraisal Fees
- Inspection Fees
- Recording Fees
ESTIMATED AMOUNT
Generally ranges from 2% to 5% of the purchase price of the home.
WHO PAYS WHAT
Buyers generally cover most of their closing costs, though sellers may contribute based on negotiation terms.
