Who takes care of home-sale closing costs?

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Even if you purchase a home using 100 percent financing, you'll still probably have to come up with some cash to cover closing costs. Closing costs are fees that are paid when a home sale closes. Both buyers and sellers pay closing costs. Who pays for closing costs--buyer or seller--is typically dictated by local custom, not law. Keep this in mind if you're buying in one area and selling in another. For example, in the San Francisco Bay area, the buyer usually pays for title insurance. In Southern California, this is often a seller cost. So if you move from Southern to Northern California, you could find yourself paying for title insurance in both locales. Closing costs most often paid by buyers include the fees associated with the buyers' financing; title insurance (depending on where you're buying); all or part of transfer fees (if there are any); homeowner's insurance; inspection fees; fees paid to attorneys, closing or escrow agents; and a buyer's brokerage fee, if there is one. Bu...