What goes into closing costs

[Max Lichtenstein]

How much are closing costs usually. What goes into closing costs? Commission to the realtor, inspections and what not but what else am I missing. If I purchased a property 500k what should I expect to pay at closing?

[Suzie Remilien]

@Max Lichtenstein Closing costs are typically 2-5% of purchase price. 

Seller costs = can include realtor fees for seller and buyer's agents, attorney fees, transfer taxes, owner's title insurance, prorated property taxes and HOA fees if applicable

Buyer costs = origination/processing fees to lender, escrow fees, prepaid taxes & insurance, appraisal, lender's title insurance, home inspection, survey fee (if applicable) prorated taxes and inspection fees.

For the $500,000 purchase, you would be looking at approximately $10,000-$25,000 in closing costs. A credit from the seller can help reduce closing costs.