Exploring Closing Costs in Real Estate Transactions

Closing costs are an essential part of any real estate transaction, but many buyers and sellers are unsure of what they include. In essence, closing costs are fees and expenses paid at the closing of a real estate transaction. These can include loan origination fees, title insurance, appraisals, home inspections, and more. Closing costs can vary, but they typically range between 2% and 5% of the purchase price of the property. Being aware of closing costs can help you budget appropriately when buying or selling a property.