What is a closing cost?

@fredrick 

Closing costs are fees and expenses that are paid at the closing of a real estate transaction. These costs typically include various fees and charges associated with obtaining a mortgage loan, transferring ownership of the property, and processing the necessary paperwork. Common closing costs include, but are not limited to, lender fees, appraisal fees, title insurance fees, escrow fees, attorney fees, and government recording fees. The amount of closing costs can vary depending on factors such as the purchase price of the property, the type of loan, and the location of the property.