closing costs

plural noun

Personal Finance.

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.

Example Sentences

Other incentives might include helping buyers secure a lower mortgage rate or offering to pay some closing costs.

From BBC

And if you’re taking out a loan to finance the renovation, you’ll also have to factor in interest rates, closing costs and other loan fees.

From Salon

We’re also planning to potentially use our current mortgage originator in the refinance, which is waiving closing costs on a new loan.

From Salon

The county also agreed to pay as much as an additional $5 million in closing costs on the transaction.

From Los Angeles Times

For example, a buyer can offer to pay $850,000 for a house if the seller gives them $30,000 back, which the buyer would then use to pay their agent and other closing costs.

From Los Angeles Times