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

Incentives can range from offering mortgage-rate buydowns to free closing costs, or free upgrades on appliances.

From MarketWatch

The couple had been hoping winnings from the bet would help with closing costs for the apartment they were buying at the time.

From The Wall Street Journal

The average amount of funding that buyers got from down-payment assistance programs was $18,000 as of the latest count, Down Payment Resource said, and many programs also provide help with closing costs and reductions in mortgage-insurance costs.

From MarketWatch

Other ideas that could be on the table include pricing cuts at government mortgage agencies, pressuring home builders to speed up construction, and pressuring title insurers and credit bureaus to lower borrowers’ closing costs, wrote TD Cowen analyst Jaret Seiberg in a research note on Tuesday.

From Barron's

Some lenders offer free refinances with no closing costs as a way to keep your business.

From MarketWatch