What does Non-Recurring Closing Costs mean?

Non-recurring closing costs are one-time expenses that are incurred when purchasing a property, such as title insurance, appraisal fees, and legal fees. These costs are not part of the ongoing expenses of owning the property and are typically paid at the closing of the sale.

Related Terms

Closing Statement Exclusive Right to Sell Common Law Passive Loss Neo-Traditional Planning Principle of Regression Curb Appeal Home Inspection Individual Retirement Account Corrective Work Fiduciary duty Liquid Assets Agreement of Sale Standard Payment Calculation Buy-Down Mortgage Buyer's Remorse Hours of Operation (In a Lease) Buyer's agent