Accounting for Closing Costs?

[Katie Anderson]

How do you account for closing settlement charges and expenses such as escrow fee, title insurance, wire/notary fees, recording fees, items payable in connection with a loan (on the seller side), appraisal fees, etc... Do you itemize these various items under insurance, legal/professional fees, bank fees on your COA or do you book these as direct costs of goods sold? Is there a reason to keep these off the individual project/investment proforma and put in overhead expenses; or should the opposite argument be made?

Thank you!