The Real Estate Encyclopedia
What Are Closing Costs?
Category - Home Buying Questions - Buying Legal & Closing FAQ's

Closing Costs are sales expenses that must be paid in addition to the Purchase Price of the property by the Buyer and the Seller. 


Typical Buyers Expenses are:


       New loan or assumption fees

       Prepaid interest on the new loan

       Deed and mortgage recording fees

       Escrow fees

       Title insurance

       Reimbursement to Seller for prepaid taxes (or prorated property taxes)

       Appraisal fees

       Attorney fees for drafting the contract for deed

       Well/septic inspection fees where applicable

Home Buying Questions - Buying Legal & Closing FAQ's
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