Costs of the purchase, separate from the down payment, associated with closing a property sale. Closing costs are typically grouped into two categories, non-recurring costs and recurring costs. Non-recurring costs are associated with the purchase of the property such as loan costs, title fees, escrow fees, taxes, home inspection fees, and recording fees. Recurring costs are paid at the close of escrow and also throughout the time you own the property. Interest, property taxes, homeowners insurance and mortgage insurance are recurring costs.