Closing Costs

Closing costs are the expenses incurred by sellers and buyers in transferring ownership in real property. The costs of closing may include the origination fee, discount points, attorneys’ fees, loan fees, title search, and insurance, survey charge, recordation fees, and the credit report charge. A common estimate of a Buyer’s closing costs is 2 to 4 percent of the purchase price of the home. A common estimate for Seller’s closing costs is 3 to 9 percent.