closing costs

Definition of "closing costs"
  1. 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
How to use "closing costs" in a sentence
  1. After accounting for the closing costs, Mark realized he had underestimated his budget for buying the house.
  2. Closing costs can often be negotiated, which may help to reduce the overall cost of the property transaction.
  3. The closing costs included expenses such as lender's fees, transfer taxes and title insurance premiums.

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