Settlement Fees

FOR SELLERS

Please review fees and important reminders in our seller's closing guide prior to your settlement.

  • DC/Maryland/Virginia

    Service Fee
    Settlement fee (all inclusive*) $550
    Mortgage Payoff/Release Procurement $185 (per lien)

     

    Additional/and Other Services Fee
    Seller Remote Closing/Document Delivery** $125
    Seller Pre-Settlement Closing meeting*** $100
    Seller NotaryCam Closing Meeting**** $150
    Title Clearing Services***** $200/hour
    Power of Attorney Document Preparation $150
    FIRPTA Withholding $450
    MD Non-Resident Withholding $125
    Seller-side “Split” Closing (An additional $150 deed preparation fee will apply for the drafting/preparation of an attorney-certified deed of conveyance) $650

    * Includes deed preparation, notary fees, courier/wire costs and E-document storage/delivery, but does not include additional services set forth below.

    ** For sellers NOT attending the closing meeting in our offices and requiring documents to be prepared and delivered electronically for execution and notarization in advance of the actual settlement date/time. NOTE: This method requires the sellers to arrange for their own meeting with a notary public and to return the signed and notarized documents to Federal Title at least 3 business days prior to the actual settlement date.

    *** For sellers attending a closing meeting in our offices and requiring advance document preparation for execution and notarization of the closing documents prior to the actual settlement date/time.

    **** Not currently available for Maryland properties. For sellers NOT attending the closing meeting in our offices and requiring documents to be prepared and delivered electronically for execution and notarization in advance of the actual settlement date/time. NOTE: This method allows the sellers to electronically sign documents, via webcam, from the comfort of their home or office without having to arrange for a physical meeting with a notary public. A NotaryCammeeting must be made at least 3 business days prior to the actual settlement date.

    *****In the event that liens require additional title clearance proceedings, upon notification to the seller, there will be an additional charge of $200/hour for the additional services rendered.

  • Additional info sellers should know

    To prepare for settlement, we will need several pieces of information well in advance of closing. To ensure a smooth settlement, please take a moment to review this page.

    Under contract?

    We encourage you to use our Sellers Calculator tool to better prepare for your upcoming closing. This tool offers a comprehensive breakdown of all closing costs including agent commissions, transfer/recordation taxes, payoffs, etc.

    Individuals using Power of Attorney

    NOTE: Fannie Mae recently issued new restrictions on use of Power of Attorney. Please read this article and contact our office with any questions. If you must use Power of Attorney, please contact us.

    READ MORE: POWER OF ATTORNEY PITFALLS

    Other required documentation

    If the property is owned under one of the following types of ownership, our office will require the following documents at least 5 business days prior to closing.

    ESTATES

    • Copy of Last Will & Testament of decedent (if any)
    • Copy of Letters of Administration and Death Certificate
    • Name, address and phone number of Attorney for Estate (if any)
    • Copy of Proof of Death in the form of a death certificate of any co-owner whose interest is transferred immediately to you upon his/her death (an original Death Certificate is not needed)

    Power of Attorney CANNOT be used when title is held in the name of an Estate.

    CORPORATIONS

    • Copy of Articles of Incorporation
    • Copy of Corporate Resolution (authorizing signatory)
    • Copy of Certificate of Good Standing (current within one year)

    LIMITED LIABILITY COMPANIES

    • Copy of Articles of Organization
    • Copy of Operating Agreement
    • Copy of Certificate of Organization
    • Copy of Company Resolution (authorizing signatory)

    REVOCABLE/IRREVOCABLE TRUSTS

    • Copy of Trust Agreement and all addenda(Please contact us if you’re unable to fax all pages.)

    Power of Attorney CANNOT be used when title is held in the name of a Trust.

    IF PARTICIPATING IN A 1031 (REVERSE OR STARKER) EXCHANGE

    • Provide the name and contact information of your Exchange Agent/Qualified Intermediary so we can coordinate 1031 Exchange documents and proceeds transfer.

    READ MORE: REVERSE OR STARKER (1031) EXCHANGE

  • Reminders for settlement

      • Call your various utility companies and let them know the date of settlement.
      • Each person named on the title must attend closing and bring photo identification.

    NOTE: If a scheduling conflict arises, contact us to make arrangements to sign the settlement documents in advance.

    • Be sure to bring all keys to the property to your closing appointment.
    • If you are able to locate your owner’s title insurance policy and/or location survey, please fax (202-362-5901) a copy to our office.

    If you have any questions regarding any of these services, please contact us by email, or call us at 202-362-1500.

Federal Title & Escrow Company

For nearly 25 years, our independently owned title company has leveraged technology to streamline the closing process, providing top-notch service at a competitive price for buyers, sellers, agents and lenders across the District of Columbia, Maryland and Virginia.

  • We are proud pioneers of creating a better closing experience for buyers, sellers, agent and lenders.
  • Our instant REAL Credit™ for ordering settlement services online has saved our neighbors upward of $18 million to date.
  • Our paperless, custom-built closing workflow software allows us to proactively keep customers in the know and avoid settlement surprises.
  • Our free mobile app Close It!™ helps homebuyers and their agents better understand the complete cost to be paid at closing.
    • Often imitated but never replicated – we set the bar other title companies aspire to reach.

Have questions? We'd love to hear from you! Contact Us

Closing Costs Explained...

Closing costs include taxes, lender fees and title fees that a homebuyer pays at settlement. Watch this video to prepare for the process.

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©2020 Federal Title & Escrow Co.
5335 Wisconsin Avenue, NW, Suite 700
Washington, D.C., 20015
Phone: 202.362.1500
Email: services@federaltitle.com

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