What are closing costs in a real estate transaction?
Closing costs are a combination of fees, pro-rations, and special interest charges related to a real estate transaction. Fees that are charged for services include title searches, title insurance, and documentation fees. Pro-rations would relate to the taxes and/or property association dues. Special interest charges would include items such as escrow fees and upfront loan points related to a mortgage. We can provide you a good-faith estimate of closing costs prior to entering a real estate contract.
