Don't forget to factor in closing costs when considering a home sale or purchase. Reinhart Realtors is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call us today at (734) 669-5882 if your needs include a real estate pro experienced in the business side of real estate.

What closing costs should you expect?

There are certain ordinary expenses linked to closing the sale of a house. These costs are commonly split between the buyer and seller, as instructed in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Michigan to help show you through your process.

Costs pertaining to your mortgage to be paid at closing    (Learn more)

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

At closing, the following taxes are usually paid    (Learn more)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Learn more)

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

Sellers: As we negotiate your sale, I'll not only work to get the highest sales price, but I'll also push for limited closing costs. And once we've reached an agreement, I'll explain in detail the closing costs so you know exactly where your money is going.

Buyers: If you are buying a house in Washtenaw County, you will receive 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 an appropriate range so you're not surprised when you come to closing time. I'll be glad to look through the GFE with you, answering your questions and highlighting any estimates of concern.

 


Reinhart Realtors 500 E. Eisenhower Pkwy., Suite 200 Ann Arbor, MI 48108
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