Before a home purchase can be complete, closing costs will be paid. Closing costs can amount to quite a bit of money, and can sneak up on buyers who aren't prepared. Altogether, closing costs may cost as much as 3 or 4% of the sale price of the home. For this reason, it's important to know what closing costs are and when they are due.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
What You Need To Know About Closing Costs
Closing costs are the administrative fees associated with the sale of a home. Many different entities will charge a fee at the time a home sells, and these fees can vary from one place to another and from one home sale to another.
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