Closing Costs and Who Pays Them
Buying or selling a home involves a lot of costs. The big expenses like down payments and repairs may be the more obvious ones. However, there are other expenses that need to be taken care of before the deal is done. These costs are known as closing costs, and they can be a bit confusing, especially for first-time home buyers.
So, who pays for these closing costs? The answer is both the buyer and the seller, but the specific fees and amounts they pay will vary.
With that in mind, we’ll explain who pays for what when it comes to closing costs. Additionally, we’ll answer a few more questions along the way.