closing costs
- Fees and expenses, over and above the price of the property, incurred by the buyer and seller in a real estate transaction during the transfer of property ownership
- After accounting for the closing costs, Mark realized he had underestimated his budget for buying the house.
- Closing costs can often be negotiated, which may help to reduce the overall cost of the property transaction.
- The closing costs included expenses such as lender's fees, transfer taxes and title insurance premiums.
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