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

The Geffen’s upcoming season continues with the West Coast premiere of Bess Wohl’s Ms. Magazine-inspired “Liberation” and the L.A. premiere of Ngozi Anyanwu’s sibling saga “The Monsters,” along with the first-ever staging of L.A. playwright Grace McLeod’s real estate comedy “Closing Costs.”

From Los Angeles Times

Since McCraney was appointed as the Geffen’s artistic director in 2023, he’s sought to platform timely stage productions like “Closing Costs,” with themes that feel relevant to Angelenos.

From Los Angeles Times

The rule of thumb when buying or selling property is to wait five years to cover your closing costs, which can be considerable.

From MarketWatch

After a deduction for closing costs, he owed tax on $137,083 from the sale of the Hull house.

From The Wall Street Journal

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

From MarketWatch