Note: This post is part of an ongoing series aimed at helping first-time homebuyers.

Closing costs are the costs associated with “closing” the purchase deal. These costs can include legal and administrative fees related to the home purchase. Closing costs are additional to the purchase price of the home.

Closing costs are just a small part of the entire closing process. Listen to REALTOR® McKenzie Millward as she highlights the most important steps you'll take when closing on a home.