Real Estate Laws & Customs By State - Fidelity National Title Insurance Company

- 52 - REAL ESTATE LAWS & CUSTOMS BY STATE WISCONSIN Title Insurance Rates Filed Form of Conveyance Warranty Deed; Installment Land Contracts State Encumbrance Forms Mortgage Customary Closing Entity Title or escrow company; others Commitment Issued? Duration? Yes. 180 days. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Real Estate Transfer Fee Mortgage Tax? No Leasehold Tax? No, if less than 99 years CUSTOMARY FEE SPLITS Owner’s Policy Premium Seller pays Loan Policy Premium Buyer pays. Standard residential contract requires seller to provide a “gap” endorsement, the cost to be agreed upon by the parties. Title Search & Examination Included in premium Survey Charges Negotiable Deed Transfer Tax Seller pays Mortgage Tax Not applicable Closing Fees Buyer pays loan closing fees; Seller pays Deed closing fees Recording Fees Buyer pays to record Deed and Mortgage Seller pays to record documents to remove encumbrances