What are closing costs?

Closing costs are fees associated with the purchase and sale of a residential real estate property in Delaware. They typically include things like title search fees, survey and attorney fees, recording fees, transfer taxes, title insurance premiums, and fees for any other services required to complete the transaction. Closing costs are typically paid by the buyer, although sometimes they can be split between both parties. The total amount of the closing costs will vary based on the specifics of the transaction and the area in which the property is located. In Delaware, closing costs generally range between 2.5-3.5% of the purchase price of the property. This should be taken into account when budgeting for a real estate purchase. It is also important to note that closing costs are separate from down payment costs.

Related FAQs

What is a home inspection and why should I get one?
What is a dual agency in a real estate transaction?
What is an Option Clause in a real estate contract?
What are the pitfalls of foreclosure?
What is a deed of trust with a due-on-sale clause?
What documents should I keep when buying a home?
What is a mortgage pre-approval?
What is the difference between a realtor and a real estate agent?
What is the difference between a real estate attorney and a real estate agent?
What is a Notice to Quit?

What are closing costs?

Related FAQs

Related Blog Posts