settlement costs

Definition

Fees and expenses, over and above the price of the property, incurred by the buyer and/or the seller in the property ownership transfer. Examples are title searches, lawyer's fees, survey charges, and deed filing fees. also called closing costs.

Use settlement costs in a sentence

If the settlement costs were too high, then I was afraid that we would not continue with what we were doing.

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The settlement costs were substantial on the long drawn out deal as there were many hidden costs we did not expect.

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You should try and make sure that you can cover any settlement costs that come your way and not have them make you over budget.

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