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Don't forget to factor in closing costs when considering a home sale or purchase. The Virtual Real Estate Team is experienced at assisting both buyers and sellers when it comes to closings. E-mail or call us today at (405) 509-5335 if your needs include a professional REALTOR® ready for the business side of real estate.

What closing costs should you expect?

There are certain standard fees related to closing the sale of a house. These fees are often divided between the buyer and seller, as noted in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Oklahoma to help lead you through your deal.

Loan-related closing costs    (Click here for more information)

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

At closing, the following taxes are usually collected    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

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

Sellers: As we get through the details of your deal, not only will we work to get the highest sales price, but we'll also advocate for reduced closing costs. And once we've come to an agreement, we'll fully explain the closing costs so you know exactly where your money is going.

Buyers: When purchasing real estate in Oklahoma County, you will get 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 startled when you show up at the closing table. We'll be willing to look over the GFE with you, answering your questions and highlighting any estimates in question.

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