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closing costs - Expenses incurred by buyers and sellers in transferring ownership of a property. Closing costs normally include an origination fee, an attorney's fee, taxes, an amount placed in escrow, and charges for obtaining title insurance and a survey. Be sure you understand what each closing cost is for and be sure to ask to see if you can get some of these costs waived.
About Mr. Thrifty: Mr. Thirfty's goal is to help others make the most out of their financial resources through education, suggestions and humor. If you like what you see, tell your friends about Mr. Thrifty!
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