Final answer:
When selling a home, you will incur costs such as realtor's commission, title search and insurance, loan origination fee, and points.
Step-by-step explanation:
When selling a home, you will incur several costs. These include:
- Realtor's commission: This is the fee paid to the real estate agent who helps sell the home. It is typically a percentage of the home's sale price.
- Title search and insurance: These costs are associated with verifying the ownership of the property and protecting against any claims or liens.
- Loan origination fee: This fee is charged by the lender for processing the loan application and granting the loan.
- Points: Points are prepaid interest that a borrower pays to reduce the interest rate on their mortgage.