Closing Costs

Closing costs are the fees required to finalize a real estate transaction, paid on top of the purchase price at the closing table. For buyers they typically include lender fees, appraisal, title insurance, attorney charges, and prepaid taxes and insurance. For sellers they usually include the real estate commission, attorney fees, and the state transfer or conveyance tax. Who pays what differs by state and by negotiation: in Rhode Island and Massachusetts the seller customarily pays the conveyance tax, while each side covers its own attorney and lender costs. See who pays what at closing RI vs MA for a full breakdown, and estimate your own figure with the closing cost calculator. Costs vary widely, so get a written estimate early.