Don't forget to factor in closing costs when considering a home sale or purchase. Weichert Realtors - Cress & Company is seasoned at assisting both buyers and sellers when it comes to closings. E-mail or call us today at (401) 885-2990 if your needs include a professional REALTOR® experienced in the business side of real estate.

Closing costs you should expect

There are certain normal expenses accompanying closing the sale of a house. These costs are usually divided between the buyer and seller, as instructed in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Rhode Island to help direct you through your process.

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

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

Taxes commonly paid at closing    (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, We'll not only work to get the optimal sales price, but we will also campaign for lower closing costs. And once we've arrived at an agreement, we will give a detailed list of the closing costs so you are aware of exactly where your money is going.

Buyers: When purchasing a home in Rhode Island, 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 previous experience and is required to be within a suitable range so you're not astonished when you get to closing time. We'll be glad to look at the GFE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.

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