Don't forget to factor in closing costs when considering a home sale or purchase. Inventure Realty-MadCity Property is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call us today at (608)661-7066 if your needs include a real estate pro experienced in the business side of buying and selling.

Expected closing costs

There are certain expected costs accompanying closing the sale of a house. These expenses are usually split between the buyer and seller, as dictated in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Wisconsin to help guide you through the process.

Closing costs that are loan-related    (Click here for details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually collected    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we get through the details of your transaction, not only will I work to get the highest sales price, but I'll also push for reduced closing costs. And once we've come to an agreement, I'll describe in detail the closing costs so you know exactly what you're paying for.

Buyers: If you're buying a house in Dane County, you will get a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within a tolerable range so you're not startled when you reach the closing appointment. I'll be glad to go over the GFE with you, answering your questions and highlighting any estimates of concern.

 J.D. Power and Associates

2601 Crossroads Drive Suite 130 Madison, WI 53718
Phone: Cell:

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All rate, payment, and area information are estimates and approximations only.



 
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