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Closing Costs

In addition to the deposit for property purchase, buyers will also incur closing costs together with any costs associated with the loan

Closing costs for the buyers taking a mortgage are typically about 2% of the price of the home.

Contract closings usually involve the buyer in the following costs:

Mortgage application fees
Survey fees
Appraisal fees
Inspection fees
Document & intangible taxes on the mortgage
Recording fees for the mortgage
Lender's title insurance
Title Agent fees

Most of these fees do not apply to cash purchases without a loan, in which case closing costs will be a few hundred dollars.