Residential Real Estate Closing Fees

 

To schedule closings:

For closings with attorney Chip Reinhardt (profile, e-mail), please contact closing secretary Karen Davis at 534-1200.  For closings with attorney Dan Milam (profile, e-mail), please contact him directly, or his closing secretary Jennie Logan, both at 534-1200.

Basic Residential Closing Rates:( see special notes below for other charges which can increase these basic fees)
 

 

House Purchases **
     For one mortgage loan only, no 80/20 or other
     “piggyback”-type loans.

$500

Refinances **

$450

Additional Fee for Second Mortgage for 80/20 or “piggyback”-type loans

$200

Cash Sale (no loan) **

$450

 

 

** When the purchase price and/or loan amounts exceed $500,000, the fees may be higher - be sure to check with the closing attorney.

 

 

 

Miscellaneous

 

Deed and Lien Waiver for Seller

$100

Preparation of Limited Power of Attorney for Closing

$75

Preparation of Subordination Agreement 
     Preparation ONLY.  We do not negotiate the terms.

$90

Release Deed
     Preparation ONLY - We do not negotiate the terms

$90

Note and Deed of Trust

$100

Minimum Title Examination Fee without Closing

$150

Mortgage Cancellation Fee (per lien to be canceled)

$25

Wire Transfers

$25

NOTE the following in connection with the above-stated residential real estate fee structure:

SURCHARGE FOR CLOSINGS DONE BY MAIL/COURIER:  If our office handles a closing involving a mortgage loan, where the closing documents are not to be executed in our office, but are to be closed through mail or courier, there will be a surcharge of $100.  This surcharge is added to the regular fee otherwise charged for the closing as set forth above and to surcharges for overnight services (set forth below).

SURCHARGE FOR CLOSINGS DONE WITH POWER OF ATTORNEY: In addition to the fees set forth above, if our office handles a closing involving a mortgage loan, where the closing documents are to be executed by one or more attorneys-in-fact acting under powers of attorney, there will be a surcharge of $100 over and above the regular fee otherwise charged for the closing as set forth above.  If our office draws up and/or records the power of attorney, there will be additional charges beyond the surcharge for the preparation of the power of attorney (see schedule above) and for recording fees (see recording fee page)

TITLE INSURANCE:  Title insurance is required in at least the loan amount when a mortgage lender is involved.  For a small additional premium charged by the title company, our office routinely secures an owners policy of title insurance in all closings on the purchase price amount for buyers in closings, unless the buyer specifically elects not to secure owners coverage (bad idea).  Although our office routinely does full title searches for home purchases, some premium money (due to a title company reissue premium credit) may be saved if the seller provides a copy of the existing title policy on the house.

SURCHARGES FOR OVERNIGHT SERVICES:  Overnight  courier expense charges will be added to each closing at the rate of $35 for mortgage loan packages (more if this is a “warehouse” loan requiring separate shipment of closing documents to more than one place) and $25 for each separate loan payoff in a closing.  The only exception will be for those mortgage lenders and payoffs where mortgage document return and payoff can reasonably be made by local hand-delivery or pickup.

SURCHARGE FOR WORK WHERE PROPERTY IS LOCATED OUTSIDE OF DURHAM COUNTY:  All of the above prices assume that the property is located in Durham County.  For an additional surcharge of $75, we also do the same closings and refinances for properties located in the following “contiguous” counties: Orange, Person, Granville and Chatham.  Although Wake County is a contiguous count, we add a $100 surcharge for Wake County closings.  If property is situated in a county not named here, call for specific price quote.