Contracts
In New York, which of the following is a common 'closing cost' paid by the BUYER?
ABroker's commission
BMortgage recording tax and title insurance (lender's policy)✓ Correct
CTransfer tax
DOutstanding utility bills
Explanation
Buyers in New York typically pay mortgage recording tax, the lender's title insurance policy, appraisal fees, loan origination fees, and attorney fees. The seller typically pays the broker's commission and (outside NYC) the owner's title insurance.
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