What Are Closing Fees?

Closing fees in real estate encompass various costs incurred by buyers and sellers during the finalization of a property transaction. These include loan origination fees, appraisal fees, inspection fees, title insurance, attorney fees, recording fees, and survey fees.

Additionally, prepaid costs like property taxes, homeowners insurance, and mortgage interest, along with escrow fees for managing the transaction, are also part of the closing costs. These fees are detailed in the closing disclosure document provided to the buyer before the closing date.