05-16-2008, 11:15 AM
The closing reserve fee is there in case closing is delayed and therefore the prorated things like property taxes, road fees etc change. If they don't change, you'll get it all back. If they change by a little bit because closing is delayed by a few days, you'll get most of it back minus a few bucks.
Most real estate agents have a good idea of the fee structures for different escrow companies. For example, some charge the same fees for title insurance and escrow for everything under $100,000. Others have fee schedules that start at $40,000 or so (and for those smaller transactions, of course, its proportionally less). I know that I will show the fee schedules to a buyer if I think the fees may be significantly different. Of course, in the end, its up to the buyer and/or seller if they have a preference.
All that being said, I do love First American Title.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
Most real estate agents have a good idea of the fee structures for different escrow companies. For example, some charge the same fees for title insurance and escrow for everything under $100,000. Others have fee schedules that start at $40,000 or so (and for those smaller transactions, of course, its proportionally less). I know that I will show the fee schedules to a buyer if I think the fees may be significantly different. Of course, in the end, its up to the buyer and/or seller if they have a preference.
All that being said, I do love First American Title.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
John Dirgo, R, PB, EcoBroker, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
http://www.bigislandvacationrentals.com
http://www.maui-vacation-rentals.com
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
http://www.bigislandvacationrentals.com
http://www.maui-vacation-rentals.com