Closing costs refer to the transaction-related costs incurred when a property is sold. There are closing costs for both buyers and sellers. Seller closing costs can include title insurance, escrow fees, realtor commissions, and other costs negotiated as part of the purchase contract such as a home warranty, new survey, or POA fees. Buyer closing costs can include loan origination fees, escrow fees, appraisal costs, and POA fees. Buyer closing costs will vary depending on the type of loan used to purchase the property.