How much for settlement fees?

Comparing rates and services among title companies is the best way to save money on closing costs. To make this easier for consumers, the Real Estate Settlement Procedure Act requires all title companies to disclose their fees as a lump sum. Know your total costs up front with a Quick Quote.

 † Federal Title charges $750 for purchase transactions. The following services are included:

  • Title abstract

  • Courier costs

  • Tax certificate

  • Admin fees

  • Closing fee

  • Notary fees

  • Title insurance binder

  • Recording service fee (if applicable)

  • Power of Attorney (if applicable)

Lender Required Endorsements:
Florida Form 9 Endorsement -- 10% of Owner’s plus Lender’s Policy Navigational Servitude Endorsement -- 10% of Owner’s plus Lender’s Policy Other Endorsements -- $25.00 per Endorsement

Simultaneous Issue Transactions:
When an owner's policy and a loan policy are issued simultaneously, the rate applicable for the owner's policy shall be the regular owner's rate. In all cases the owner's policy shall be issued for the sale price of the property or, in the even there is no sale, the value of the premises. An additional $25.00 (FL) will be added to the premium whenever a simultaneous issue occurs.

Re-Issue Rate Policy:
To qualify for a reissue rate, the borrower must provide the (seller's) current owner's title policy which must be less than 10 (ten) years old. The reissue rate is based on the the face amount (coverage) of the (seller's) current policy. However, if the buyer qualifies for the Real Credit Program then we can only honor EITHER the re-issue rate or the REAL Credit™, not both.

In addition, the buyer is customarily responsible for deed recording fees, condominium search/approval fees, documentary stamp taxes on the note and the intangible tax on the mortgage. The seller is customarily responsible for fees due on documentary stamps on the deed. Federal Title & Escrow Company reserves the right to modify the fees listed above with reasonable advanced notice, however, such fees will not change during the course of a transaction unless required by law or our title insurance underwriter.

Updated on 1/19/2009 - This information is deemed reliable, but not guaranteed.

 

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