I  want  to  know  that   what   are   the  "closing   or  transaction
 costs"  of   the  property ??

_
The "State of New York Mortgage Agency" defines "Closing Costs" as follows: 
  
"Expenses (over and above the price of the property) incurred by
buyers and sellers in transferring ownership of a property. Closing
costs normally include, but are not limited to, fees charged by
lenders, attorney fees, taxes, insurance premiums (e.g. flood
insurance, hazard insurance, PMI), escrow charges, title insurance
costs and survey costs. Lenders or realtors can often provide
estimates of closing costs to prospective home buyers."
http://www.nyhomes.org/sony/glossary.htm

"At this point, having secured the mortgage loan, you already have
paid for the loan application fee, the property appraisal and some of
the down payment. At the closing, you will need to pay the balance of
your down payment. There are other costs that still must be paid in
order to close the sale, unless you already have arranged and paid for
them. (If so, bring receipts and other documentation with you to the
closing.) These costs can include:

Title search and insurance 
Survey 
Termite or other inspections 
Homeowner's hazard insurance 
Flood insurance 
Taxes 
Attorney and closing agent fees
Additional fees related to the loan: 

Loan origination fee 
Points, if any 
Private mortgage insurance (PMI) 
Balance of your down payment"

http://loan.yahoo.com/m/closing2.html

I had a couple years in the real estate business and here are some
estimates for you (not exact of course as expenses will vary)

Title search and insurance $500
Survey $300
Termite Inspection $150
Homeowners Insurance .5%-.8% of home value
Taxes $1000 (look up taxes for your state)
Attorney/Closing Agent fees $400
Loan Origionation 1% of loan
Points (up to you, hopefully if you pay points you will get a lower
interest rate, remember that points are tax deductible where loan
origionation fees are not)
PMI .75% loan value
Recording Fees $100

Some of these closing costs may be avoided and there are always others
that will come up in the process.  Be sure to look at every expense
closely and feel free to ask the closing agent why expenses are there
and remember that you can still negotiate at this point.  They want to
close the deal as much as you do so you do have some leverage (you
have alot of leverage if you are ... or even give the impression...
that you are willing to walk away from the deal).

Good luck with the American dream!

Closings costs will vary geographically.  However, why not go to
direct for your answer, The HUD. 
http://www.hud.gov/offices/hsg/sfh/res/sfhrestc.cfm will inform you
about closing costs.

Beware, always get a few mortgage quotes because closing costs may
vary greatly from company to company.  Here is my plug:  To view my
companies rates and closing costs, go to http://www.mrates.com

Thanks!