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closing costs

plural noun, Real Estate.
1.
fees charged to a purchaser by a bank, lawyer, etc. for services related to a sale, as title search, appraisal, etc.
2.
any expenses over the purchase price of a house, land, etc., that is paid by the purchaser or seller at the completion of the sale.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for closing costs
  • Compare the final closing costs with those in your good-faith estimate, which you should have got when you applied for the loan.
  • To encourage that option, the program would eliminate closing costs.
  • If you bought your home, you probably paid settlement or closing costs in addition to the contract price.
  • From this premium, the lender pays any closing costs that are incurred on the transaction.
  • The first is an arrangement in which the lender covers the closing costs, but charges you a higher interest rate.
  • Other closing costs, such as appraisal fees and processing fees, generally are not deductible.
  • For a list of allowable and unallowable closing costs, please follow the link below.
  • Sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount.
  • closing costs do not include discount points or prepaid expenses.
  • If you accept the county's offer, the county will pay all closing costs, including recording and escrow fees.

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