On the day when a home becomes yours officially (known as closing day), you will have to pay fees for the services of several parties. In a typical real estate deal, closing costs total 2 to 5 percent of the purchase price of the property. You shouldn't ignore them in figuring the amount of money you need to close the deal. Here are some typical closing costs (listed from those which are usually largest to those which are typically tiniest). Exact fees vary by property cost and location: