Hi Yolanda, Here is your answer. Your Costs based on selling your home in Wisconsin would be the following: 1) A real estate Attorney to help you negotiate your offer and hire a title Insurance company to pay off all your liens, mortgages, taxes, recording fees, etc. and close the deal for you. 2)Title Insurance w/ possible gap endorsement. - This clears all liens, judgements and pays off Mortgage at Closing. You or your attorney can shop costs. Make sure when you shop costs you ask for Title Insurance, Special Assessments and closing costs with your quote. Most title companies will just quote you the insurance cost. Ask for everything. 3) State Transfer Fee (or tax) You have to pay the State a fee of $3 per $1,000 of your sale price. (if you sell for $200,000 your transfer fee of $600) 4) You will have to pay recording fees that record the Deed and satisfaction of your mortgage. 5) Miscellaneous costs are that you will prorate your property taxes, water and sewer bills at closing as well. property taxes will usually be based on 100% or a little more of prior years tax bill and you will credit the buyer from the first of the current year to the day prior to closing. If you currently escrow your property taxes with your mortgage payment this will generally be a wash. Your water and sewer bills may actually come back to you as a credit to you if you pay quarterly. You will receive the amount left over if you close in the middle of the quarter.
If you have any other questions, feel free to give me a call or email. Dave Eyrise, Realty Executives Integrtiy- Brookfield (262) 901-0801 or daveeyrise@reintegrity.com or visit
http://www.daveyrise.com - Fri Dec 28 2007, 09:36