Answered

What are closing costs?
Ovarious fees paid monthly along with rent
various fees paid every year as part of taxes
various fees paid when a home purchase is finalized
Time Runi
54 Minute



Answer :

GinnyAnswer

Final answer:

Closing costs are expenses paid at the finalization of a home purchase, covering fees like appraisal and title insurance.


Explanation:

Closing costs are various fees paid when a home purchase is finalized. These costs typically include expenses such as appraisal fees, title insurance, attorney fees, and other charges associated with closing the real estate transaction. It is important for homebuyers to budget for closing costs in addition to the down payment and monthly mortgage.


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