05-16-2008, 09:21 AM
1. You will get the Closing Reserve Fee back two weeks after closing.
2. The escrow fee is high, the escrow company I usually use charges $175 on a $45K purchase.
3. It's one of the junk fees. The escrow company should just e-mail you the documents for you to print out.
4. Title Insurance is high too, my escrow company charges $100 on a $45K purchase. Regardless, it's a necessary evil and it protects you, the buyer and has nothing to do with the seller.
5. Most homeowner associations charge a transfer fee when there is a change of ownership of the property. Call HPP and ask them how much they charge. Escrow can't charge you more than HPP is charging.
Overall, most real estate agents know how much escrow companies charge and give an estimate to their clients before they write up an offer. The Purchase Contract clearly specifies the additional closing charges on Pg. 4 (Section C-11) but you probably didn't read it. I think the closing costs in Hawaii is way way way below of the closing costs in other States.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
2. The escrow fee is high, the escrow company I usually use charges $175 on a $45K purchase.
3. It's one of the junk fees. The escrow company should just e-mail you the documents for you to print out.
4. Title Insurance is high too, my escrow company charges $100 on a $45K purchase. Regardless, it's a necessary evil and it protects you, the buyer and has nothing to do with the seller.
5. Most homeowner associations charge a transfer fee when there is a change of ownership of the property. Call HPP and ask them how much they charge. Escrow can't charge you more than HPP is charging.
Overall, most real estate agents know how much escrow companies charge and give an estimate to their clients before they write up an offer. The Purchase Contract clearly specifies the additional closing charges on Pg. 4 (Section C-11) but you probably didn't read it. I think the closing costs in Hawaii is way way way below of the closing costs in other States.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"