real estate

What are closing costs?

 

What are closing costs?

The Bankrate.com financial term of the day is: "closing costs."

Have you ever bought or sold a house or condo? There's enough signing to give a person writer's cramp, and when you look at your closing statement you might see a ton of fees and charges.

The various expenses that buyers and sellers pay to complete a real estate transaction are called closing costs.  They can include lender fees, title charges, such as title insurance, and government recording fees.

The sale of property can be something of a fee-for-all thanks to closing costs, all those pesky charges beyond the purchase price.

To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.

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