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Closing, Title & Escrow…. Oh My!

I recently helped a family member sell their home and buy a new one. While I knew a down payment would be needed, I never realized there was more to shop than just home insurance and what other fees were involved! The settlement agency was selected by the loan officer which was one less thing we had to take care of or at least I thought it was. After receiving the preliminary closing disclosure to review, my thoughts were… Closing, Title & Escrow, Oh My!

I began looking for ways to minimize the costs so I spoke with a client of ours, Matt Kantro of Noble Title & Escrow – so glad I called him! He sent me a list of their fees to compare and they were just over $500 less than the initial estimates! Home buyers, don’t just shop for competitive home insurance rates – call a local company like Noble Title & Escrow to compare those fees too!

Here is a list of some of the fees that a buyer can expect to pay at closing:

  • Credit report
  • Mortgage origination fees
  • Appraisal fee
  • Inspection fee – optional
  • Lenders title insurance policy
  • Owners title insurance policy – optional
  • Escrow fee
  • Closing attorney or settlement agency fee
  • Courier fee
  • Recording fee
  • Notary fee

For more information about title insurance and the closing process check out

Start shopping for home insurance as soon as you find a home you are interested in buying. Rates vary depending on location, age of home, type of construction, updates, etc. Many carriers also provide discounts for shopping ahead of your effective date. If buying a home in a coastal area, be sure to ask about flood insurance rates as well.