Closing costs are a crucial aspect of any real estate transaction, but they can vary widely, build up quickly, and be confusing to understand. Buyers tend to focus on the upfront expenses like the purchase price and down payment. Sellers often consider the repairs and renovations needed to make the home presentable for showing.
But before the real estate deal’s done, buyers and sellers must pay closing costs. You can avoid unwanted surprises during the home buying or selling process by understanding the common closing costs and what you can expect to pay as a buyer and seller.
Educating yourself about who pays closing costs can pave the way for a smoother buying experience or property sale. This will help you confidently navigate the process and make informed decisions that work best for your financial situation.
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