What are Closing Costs?
Closing costs are the end of the gauntlet when buying a house. They include a long list of fees incurred, which we have examined in detail below. Many of them go to third parties, like lenders or attorneys. The term “closing” refers of course to the last stage before the keys change hands. Typically, the buyer pays for closing costs, while the seller handles costs like realtor commissions. However, everything is open to negotiation throughout a real estate transaction, including closing costs in Denver, Colorado and its red-hot housing market.
If you are among the lucky few who can buy a house without a mortgage, your closing costs will diminish significantly.