The total amount required to purchase a property, including the price and all associated fees such as closing costs, attorney's fees, loan fees, appraisal costs, title insurance, and discount points.
Various fees and expenses payable by the seller and buyer at the time of a real estate closing; also termed transaction cost. Some closing costs include brokerage commissions, lender discount points and other fees, title insurance premiums, deed recording fees, loan prepayment penalties, inspection and appraisal fees, and attorney's fees.
A contingent fee is a payment to a lawyer for legal services that depends, or is contingent, upon winning the case. Often indicates a percentage of the awarded amount.
