What Are Closing Costs in Real Estate | Insight from Kitsap Real Estate Agent Bre Enbom

When buying or selling a home on the Kitsap Peninsula, one of the most common questions is about closing costs. Closing costs are the fees and expenses required to complete a real estate transaction beyond the purchase price of the home. Understanding these costs ahead of time helps prevent surprises and allows for better financial planning.

According to Kitsap Peninsula real estate expert Bre Enbom, closing costs typically range from two to five percent of the home’s purchase price, though the exact amount depends on the loan type, property, and negotiated terms.

For buyers, closing costs often include lender related fees such as loan origination, appraisal, credit report, and underwriting. Buyers also pay for title insurance, escrow services, recording fees, and prepaid expenses like homeowners insurance and property taxes. If you are using a government backed loan, there may also be specific program fees involved.

Sellers have closing costs as well. These commonly include real estate commissions, excise tax required by Washington State, escrow and title fees, and any outstanding balances such as mortgage payoffs or liens. In Kitsap County, sellers should be aware that excise tax rates vary depending on the sale price of the home.

One important thing to know is that closing costs are often negotiable. In some situations, sellers may agree to contribute toward buyer closing costs as part of the purchase agreement. Bre Enbom works closely with clients to structure offers and negotiations that align with their financial goals.

Closing costs are finalized in a settlement statement provided before closing. Reviewing this document carefully ensures you understand every line item and confirms that all numbers are accurate.

Whether you are buying your first home in Bremerton, selling in Poulsbo, or investing in Port Orchard or Silverdale, knowing what closing costs include helps you move forward with confidence. A knowledgeable local Realtor ensures there are no last minute surprises and that your transaction closes smoothly.