Escrow Fees

[terracore]

Here's a thread on title companies:

http://www.punaweb.org/forum/topic.asp?TOPIC_ID=21727

ETA I checked to see what we paid Title Guaranty in 2013 when we bought a ~30k vacant lot and it was roughly the same as what we paid American Title when we sold a slightly more expensive lot at owner finance. I can't remember what the split was on either property but remember it was close to 50/50 and it seems to indicate there is still something wrong with your 2k quote. It seems about twice as much as it should be. I'm not sure what "closing costs" should be included in an owner finance. "Closing costs" are usually just fees the banks make up to profit on the loan.

Who is holding the mortgage docs during the loan duration and is a finance company processing the payments? That could be the devil in the details.

[lquade]

yes something is wrong. i closed last month on a lot and fees less than 500. you need to ask for a specific breakdown. why attorney fees? is the title clouded? something unusual is going on and you need to have specifics given you. if a clouded title that is on the seller, as they can't expect a buyer if they don't have a clean title. this comes to mind as you wrote research as part of your expense. to close you can either use a title company or an attorney, they are both around the same price and i have used both at different times in the past. my lot was in the 30k's and a 10k lot should be less.