What are closing costs?

What are closing costs?

Closing costs are fees and expenses you pay when finalizing a real estate transaction, typically ranging from 2% to 5% of the loan amount.

What do these costs include?

They can include loan origination fees, title insurance, appraisal fees, and attorney fees, among others.

Can I negotiate these costs?

Yes, some closing costs can be negotiated with the seller or lender, so it's worth discussing during the buying process.

Are there any closing costs I can avoid?

While most closing costs are necessary, you can sometimes avoid certain fees by shopping around for services or asking the seller to cover some costs.