Real estate in most jurisdictions is
conveyed from the seller to the buyer through a real estate
contract. The point in time at which the contract is actually
executed and the title to the property is conveyed to
the buyer is known as the "closing". It is common
for a variety of costs associated with the transaction
(above and beyond the price of the property itself) to
be incurred by either the buyer or the seller. These costs
are typically paid at the closing, and are known as closing
costs.
Watch the video to the right for a more
detailed explanation of closing costs.
