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Closing Costs

The numerous expenses which buyers and sellers normally incur to complete a transaction in the transfer of ownership of real estate. These costs are in addition to price of the property and are items prepaid at the closing day. This is a typical list:

Buyer's Expenses    Seller's Expenses
Documentary Stamps on Notes    Cost of Abstract
Recording Deed and Mortgage    Documentary Stamps on Deed
Escrow Fees    Real Estate Commission
Attorney's Fee    Recording Mortgage
Title Insurance    Survey Charge
Appraisal and Inspection    Escrow Fees
Survey Charge    Attorney's Fee

The agreement of sale negotiated previously between the buyer and the seller may state in writing who will pay each of the above costs.

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