Don't forget to factor in closing costs when considering a home sale or purchase. Border Real Estate is seasoned at assisting both buyers and sellers when it comes to closings. E-mail or call me today at 204-324-8348 if your needs include a professional REALTOR® ready for the business side of buying and selling.
Closing costs you should expect
There are certain standard expenses linked to closing the sale of a house. These fees are often divided between the buyer and seller, as spelled out in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Manitoba to help direct you through the deal.
Closing costs that are loan-related
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance fees due at closing
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we hammer out your sale, I'll not only work to get the optimal sales price, but I'll also advocate for limited closing costs. And once we've reached an agreement, I'll fully explain the closing costs so you are informed of exactly what you're paying for.
Buyers: If you are purchasing a home in Altona, you'll be given 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 suitable range so you're not astonished when you get to closing time. I'll be willing to look at the GFE with you, answering your questions and highlighting any estimates in question.