Home Selling in Wisconsin>Question Details

Aduet, Both Buyer and Seller in Wisconsin

If I write a offer for $100,000 offer with a $6000 credit at closing what happens with the credit as far as title insurance or commission.

Asked by Aduet, Wisconsin Fri Mar 4, 2011

Can it be recorded in the transfer as $94,000? What price would the city assesment be based off?

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As far as the commission goes, it may not be deducted from the price before commission calculations unless other arrangements were included in the listing contract... which is often the case. In other words, if it is not addressed in the listing contract, commission is charged on the $6,000, too.
0 votes Thank Flag Link Fri Mar 4, 2011
The transfer "tax" will be based on the purchase price ($100,000). The assessor can/may take the credit into account when assessing the value of the home. The credit ($6,000) gets applied against your debits (insurance and other charges) as a buyer. It becomes another debit for the seller
0 votes Thank Flag Link Fri Mar 4, 2011
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