Contracts
The term 'closing costs' in a New York real estate transaction refers to:
AOnly the broker's commission
BExpenses paid by the buyer and/or seller at the closing, including transfer taxes, recording fees, title insurance, and attorney fees✓ Correct
CThe cost of moving furniture
DOnly lender fees
Explanation
Closing costs are all expenses (beyond the purchase price and mortgage payoff) paid by the buyer and/or seller at closing, including transfer taxes, recording fees, title insurance premiums, attorney fees, and prepaid items.
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