Even seasoned home buyers can make the mistake of underestimating, or even forgetting about, closing costs. These are fees and other expenses associated with the transaction that becomes due on closing day. Closing costs vary from one jurisdiction to another and can include moving expenses, legal fees and disbursements, utilities hook-up, lender's fees, land transfer taxes and more. A good REALTOR® will help you estimate the closing costs for the kind of property you plan to purchase, so you can budget accordingly.
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