What is Buyers' Closing Cost?
Closing costs are the fees that need to be paid at the end of the buying process in order to complete the transfer of the property to the buyers' name. This particular aspect of the entire process is sometimes overlooked and might cause some headache when the money becomes inadequate.
While budgeting for your home purchase, closing costs should be part of the budget.
Some of these costs may include land transfer taxes, title insurance, property valuation fees, home inspection fees, and legal fees. While some purchases may be straighforward, other purchases may incur more closing costs depending on the property being purchased and the amount of the purchase.
This summary is meant to help buyers anticipate the closing cost of the home purchase in order to have an accurate picture of the additional costs you’ll need to pay. Always ask the different professionals about the fees as those fees vary from one professional to the other.
Please feel free to print this off and use the page as your template.
Buyers' Closing Cost
Buyers' Additional Costs Explained