The Quiz: Fees paid to finalize the home-buying transaction are known by what term?
Finishing fees
Ending expenses
Closing costs
Final payment
When buying a home, there are typically a series of fees known as “closing costs” that can add roughly 3% to 6% more to the total cost of the transaction. Closing costs can include real estate commissions, insurance premiums, title filings, attorney fees, and more, which must be disclosed to buyers and sellers before the completion of the deal.
The correct answer to this quiz is Closing costs.