estimated closing fees

Definition

An approximate dollar amount above the negotiated purchase price that is expected to be paid for all associated fees at closing for a real estate transaction. These costs and fees vary, but the total average amount is about $4000 dollars. Some of these fees may include application, documentation, notary, appraisal, wire transfers, courier, surveying, title search, and inspection. Some closing fees are directed into an escrow account to handle upcoming property taxes and insurance payments.
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estimated closing costs estimated current return