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

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

For example, a buyer could offer $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

When refinancing, you pay loan fees and other closing costs, which can exceed several thousands of dollars.

From Seattle Times

In recent months, the White House has tried to address concerns about affordability head on, offering proposals such as rules to limit closing costs and a $10,000 tax credit for first time homebuyers.

From BBC