Real Estate Investing Glossary
Closing costs
Closing costs are the fees and expenses paid to complete a real estate purchase, beyond the price of the property itself.
Closing costs are the fees and expenses paid to complete a real estate purchase, beyond the price of the property itself. They can include charges for escrow, title, lender services and recording.
Why it matters to a Las Vegas investor
Closing costs add to the cash you need on the day you buy, so they belong in any estimate of what a Las Vegas rental really takes to acquire. Leaving them out makes a property look cheaper than it is.
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Questions about Closing costs
Who pays closing costs?
It depends on the purchase contract and local practice. Buyer and seller each commonly pay certain fees, and the contract spells it out.
Are closing costs part of the down payment?
No. They are paid in addition to it.