Closing costs are the expenses that are paid by the buyers and sellers in a real estate transaction, at the closing of the deal. An example of a closing cost would be option D: Title insurance.
Closing costs in real estate
The above answer is explained in further detail as given below:
- Closing costs are all the costs over and above the price of the real estate incurred at the time of closing of the transaction.
- Title insurance is taken after the real estate deal has been finalized and it protects the parties involved from any damages caused due to a bad title.
Therefore, the correct answer is option D.
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