Closing costs are the fees that the buyer and seller will owe associated with the home-buying process, such as the real estate brokerage commission and title insurance.
Most are paid by the buyer, but the seller pays for some.
The fees will vary with each transaction. Your lender or title rep will let you know what the fees are and how much you will need at the close of escrow.
The fees required to complete the real estate transaction include points, taxes, title insurance, financing costs, and items that must be prepaid or paid through escrow.
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