Seamless Transactions...Attention to Detail...Reliable Information
Title insurance gives you the protection you need when you buy a home, condominium or any other type of building or event vacant land. A complete investigation is made on every aspect of the property. After the investigation, a title insurance policy will protect you in the event that some point has been missed in the public records or someone makes a claim on the title to your property.
Conventional Mortgages
Seller Expenses
- Real estate commission
- Real estate administrative fee (if applicable)
- Search, exam and closing fee**
- Owner's title insurance policy**
- Doc stamps on deed $.70 per $100 based on sales price
- Courier fee (if applicable)
- Home warranty (if applicable)
- Taxes prorated to date of closing
- Payoff existing mortgage(s) and/or liens
Buyer Expenses
- Loan origination fee and points*
- Appraisal fee
- Credit report
- Tax service fee*
- Underwriting fee*
- Document preparation fee
- Flood certification fee
- Prepaid interest (from day of closing to end of current month)*
- First year PMI (if applicable – Over 80% Loan to Value)
- First year homeowner's and windstorm or flood insurance premiums (if required)
- Escrow account for lender to pay real estate taxes and hazard (homeowner's) insurance,
- Settlement fee
- Simultaneous issue mortgagee (lender) title insurance policy
- Endorsements to lender's policy (as applicable)
- Warehouse/notary/courier fee
- Recording fees for deed and mortgage
- Doc stamps on mortgage $.35 per $100 based on mortgage amount
- Intangible tax on mortgage $.002 x mortgage amount
- Assignment of Mortgage
- Survey of subject property – standard lot
- Termite inspection (if applicable)
- Condominium approval fee and dues (if applicable)
- Homeowner's association dues and transfer fee (if applicable)
- Home inspection fees
VA & FHA Mortgages
Seller Expenses
1. Real estate commission
2. Real estate administrative fee (if applicable)
3. Loan discount points* (negotiable)
4. Final inspections* (negotiable)
5. Inspection required by FHA/VA or contract* (negotiable)
6. Tax service fee
7. Underwriting fee
8. Document preparation fee
9. Processing fees (approx. $175-$225) (negotiable)
10. Search, exam and closing fee**
11. Owner's title insurance policy**
12. Courier fee (if applicable)
13. Doc stamps on deed $.70 per $100 based on sales price
14. Assignment of mortgage
15. Termite inspection – VA only
16. Home warranty (if applicable)
17. Payoff existing mortgage(s) and/or liens
Buyer Expenses
1. Loan origination fee/point(s)*
2. Loan discount point(s)* (negotiable)
3. Appraisal fee – usually paid at time of loan application)*
4. Credit report fee (usually paid at time of loan application)*
5. VA Funding fee (VA only)
6. Application fee
7. Inspection fee (if applicable)
8. Flood certification fee (if applicable)
9. Prepaid interest (day of closing to end of current month)*
10. First year homeowner's (hazard) insurance and windstorm or flood insurance premiums (if required)
11. Escrow account real estate taxes: Insurance/MIP
12. Simultaneous issue mortgagee (lender) title insurance policy
13. Endorsements to lender's title insurance policy (as required)
14. Recording fees for deed and mortgage
15. Doc stamps on mortgage $.35 per $100 based on mortgage amount
16. Intangible tax on mortgage $.002 x mortgage amount
17. Survey of subject property
18. Termite inspection
19. Homeowner's association dues and transfer fees (if applicable)
20. Condominium approval fee and dues (if applicable)
Cash Transaction
Seller Expenses
1. Real estate commission
2. Real estate administrative fee (if applicable)
3. Search, exam and closing fee**
4. Owner's title insurance policy**
5. Doc stamps on deed $.70 per $100 based on sales price
6. Courier fee (if applicable)
7. Home warranty (if applicable)
8. Taxes prorated to date of closing
9. Payoff existing mortgage(s) and/or liens
Buyer Expenses
1. Recording fees for deed
2. Homeowner's association dues and transfer fee (if applicable)
3. Search, exam and closing fee**
4. Condominium approval fee and dues (if applicable)
5. Survey at buyer's options
6. Termite inspection at buyer's option
7. First year homeowner's insurance and flood insurance (if applicable)
8. Home inspection (buyer's option)
* Please check with lender for these costs and any other charges lender may require. A lender is required to prepare a "Good Faith Estimate" for any costs incurred in connection with a new mortgage.
** Owner's Title Insurance Policy: Owner's title insurance, search, exam and closing fees are based on the county for which the property is located or contractual agreement between both parties. Title insurance cost is mandated by the State of
NOTE: Actual charges may vary depending on lender and contract requirements. Please refer to your contract and verify costs with your lender.
NOTE: If the buyer obtains an FHA mortgage, Dept. of HUD and VA require the seller to incur certain cost. Please refer to your "Good Faith Estimate" from your lender.
Helpful Closing Tips:
1. Bring cashier's check or wire transfer payable to Americo Title to closing.
2. Bring one legal form of photo identification issued by governmental agency (driver's license or passport).
3. Lenders seldom allow escrows for repairs.
4. Lenders may allow seller to pay buyer's "prepaid items" (negotiable via contract).
5. Lenders seldom allow credits on closing statements such as "lump sum" credits for closing costs or credit for repairs.
6. Realtor or Third party paid items require lender approval and should be noted on contract.
7. Social Security number will be required prior to or after closing.
8. Homestead Property – spouse must join on the deed.
9. Homestead Property – spouse must join on the mortgage.
The FHA will not allow the borrower to pay these:
1. Underwriting/review/loan exam fee
2. Warranty deed preparation
3. Mortgage assignment
4. Any express mail charges
5. Recording of satisfactions or releases
6. Photos o residence
7. Tax service
8. Builder's warranty
9. Copies of documents
10. Counseling fee
The VA will not allow the borrower to pay these:
1. Amortization schedule
2.
3. Any express mail charges
4. Document preparation
5. Warranty fee (new construction)
6. Underwriting/loan exam/review
7. Engineer's certification
8. Compliance inspection (new construction)
9. Appraisal, if not ordered in vet's name
10. Settlement/Closing
11. Notary
12. Photographs
13. Bond application fee
14. Tax service
15. Attorney's fee
16. Repair inspection
17. Copies of documents
941-552-5222
941-951-2321 Fax
www.PreferredSettlement.com
An Equal Housing Opportunity Realtor.
is a service mark of The Prudential Insurance Company of America. � 2008, An independently owned and operated member of The Prudential Real Estate Affiliates, Inc.
Click a Flag to translate.
