closing costs

American  

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.

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Example Sentences

Their builder discounted the home’s price and contributed toward their closing costs, he said.

From The Wall Street Journal

In terms of dollars, in 2024, the median home cost was $412,500, which means the potential homeowner would need $26,800 in cash to cover both the closing costs and a 3.5% down payment.

From MarketWatch

He would obviously have to include private mortgage insurance, property taxes, closing costs, lawyer fees etc., into the bargain too.

From MarketWatch

While some lenders may offer a rate adjustment or a refinance for free, others may require borrowers to pay a flat fee, closing costs or other fees.

From MarketWatch

Closing costs for refinances can run from 2% to 6% of a loan’s amount, according to LendingTree.

From MarketWatch