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Viewing 15 posts - 16 through 30 (of 41 total)
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  • January 12, 2011 at 6:05 PM #653621
    SD Realtor
    Participant

    heheheheh…welcome to any closing.

    One thing to note… many times (and don’t ask me why this happens, you will see that you the buyer are being charged for both title insurance policies. (yours and your lenders) Make sure you have not overlooked any credits. Make sure you are not receiving a credit for your title insurance policy cost from the seller. Thus in reality you are only paying the title insurance policy for your lender. On many GFE statements you get from lenders you will see both title insurance policies as well as county transfer tax even though you the buyer dont pay them in the end. Why this is… cannot tell you.

    If you are worried about the cost of escrow it is kind of late to do anything about it now. Call up a few escrow companies tomorrow and pose as a seller shopping for costs. Given them the sales price of the home and ask how much escrow will be total. If you want you can ask for how much title will be as well. Make sure you tell them it is a short sale because I have heard some escrow companies charge a little more for short sale escrows.

    Also as you have probably seen, there are the misc notary fees, recording fees, documentation fees, wiring fees, maybe a sub escrow fee… ain’t it fun?

    Again though, I very very very much doubt you are paying both title insurance fees unless your agent is an idiot. You are probably missing a credit from the seller somewhere on the HUD. If you cannot find it call escrow tomorrow and have them straighten it out. I will bet you a shiny quarter you are not paying for both.

    Also as sdr said you are not paying the deadbeat taxes. Tax liens are satisfied prior to closing or else title would not convey. You always will pay the property tax until the next boundary which in this case is the end of June. Also expect a suppelemental tax bill in a few weeks. Depending on where your assessment comes in you may get money back. The escrow company is basing your tax bill on the CURRENT tax assessment, not the new tax assessment.

    January 12, 2011 at 6:23 PM #652508
    sdrealtor
    Participant

    Here’s one from the sdr bag o’ tricks. There is a great site from a start up company actually based in SD that will be helpful to you. It isnt well publicized or known. I found out about it because one of the founders is from my hometown and is a good friend of one my best buds.

    SD R, you should book mark it and use it also. Title insurance is such a rip-off IMO and I love telling them what we are going to pay.

    If you want to check the closing costs plug your purchase into the wizards on this site below. You cant change the escrow or title companies but can dictate the rate you pay to some extent. They actually have the lowest title rates permissable that are filed with the CA Insurance Commissioner. If you arent getting the rate you find on this site ask for it. I have saved clients hundreds of dollars using this.

    http://www.closing.com

    January 12, 2011 at 6:23 PM #652574
    sdrealtor
    Participant

    Here’s one from the sdr bag o’ tricks. There is a great site from a start up company actually based in SD that will be helpful to you. It isnt well publicized or known. I found out about it because one of the founders is from my hometown and is a good friend of one my best buds.

    SD R, you should book mark it and use it also. Title insurance is such a rip-off IMO and I love telling them what we are going to pay.

    If you want to check the closing costs plug your purchase into the wizards on this site below. You cant change the escrow or title companies but can dictate the rate you pay to some extent. They actually have the lowest title rates permissable that are filed with the CA Insurance Commissioner. If you arent getting the rate you find on this site ask for it. I have saved clients hundreds of dollars using this.

    http://www.closing.com

    January 12, 2011 at 6:23 PM #653164
    sdrealtor
    Participant

    Here’s one from the sdr bag o’ tricks. There is a great site from a start up company actually based in SD that will be helpful to you. It isnt well publicized or known. I found out about it because one of the founders is from my hometown and is a good friend of one my best buds.

    SD R, you should book mark it and use it also. Title insurance is such a rip-off IMO and I love telling them what we are going to pay.

    If you want to check the closing costs plug your purchase into the wizards on this site below. You cant change the escrow or title companies but can dictate the rate you pay to some extent. They actually have the lowest title rates permissable that are filed with the CA Insurance Commissioner. If you arent getting the rate you find on this site ask for it. I have saved clients hundreds of dollars using this.

    http://www.closing.com

    January 12, 2011 at 6:23 PM #653301
    sdrealtor
    Participant

    Here’s one from the sdr bag o’ tricks. There is a great site from a start up company actually based in SD that will be helpful to you. It isnt well publicized or known. I found out about it because one of the founders is from my hometown and is a good friend of one my best buds.

    SD R, you should book mark it and use it also. Title insurance is such a rip-off IMO and I love telling them what we are going to pay.

    If you want to check the closing costs plug your purchase into the wizards on this site below. You cant change the escrow or title companies but can dictate the rate you pay to some extent. They actually have the lowest title rates permissable that are filed with the CA Insurance Commissioner. If you arent getting the rate you find on this site ask for it. I have saved clients hundreds of dollars using this.

    http://www.closing.com

    January 12, 2011 at 6:23 PM #653626
    sdrealtor
    Participant

    Here’s one from the sdr bag o’ tricks. There is a great site from a start up company actually based in SD that will be helpful to you. It isnt well publicized or known. I found out about it because one of the founders is from my hometown and is a good friend of one my best buds.

    SD R, you should book mark it and use it also. Title insurance is such a rip-off IMO and I love telling them what we are going to pay.

    If you want to check the closing costs plug your purchase into the wizards on this site below. You cant change the escrow or title companies but can dictate the rate you pay to some extent. They actually have the lowest title rates permissable that are filed with the CA Insurance Commissioner. If you arent getting the rate you find on this site ask for it. I have saved clients hundreds of dollars using this.

    http://www.closing.com

    January 12, 2011 at 7:23 PM #652528
    SD Realtor
    Participant

    Hmmm very interesting. I will try it out.

    January 12, 2011 at 7:23 PM #652594
    SD Realtor
    Participant

    Hmmm very interesting. I will try it out.

    January 12, 2011 at 7:23 PM #653184
    SD Realtor
    Participant

    Hmmm very interesting. I will try it out.

    January 12, 2011 at 7:23 PM #653321
    SD Realtor
    Participant

    Hmmm very interesting. I will try it out.

    January 12, 2011 at 7:23 PM #653645
    SD Realtor
    Participant

    Hmmm very interesting. I will try it out.

    January 12, 2011 at 8:08 PM #652543
    SD Transplant
    Participant

    Good stuff from both as usual…..thanks. Two quick notes: 1) my original (1st offer) GFE included the tax payments into my mortgage/escrow acct…so I knew I didn’t have to expect to see any taxes except for deadbeat’s and 2) I was aware & noticed all other credits on the HUD (so I didn’t ask questions about I could trace)….so your input is even more valuable 🙂

    sdr: That closing cost link made my wife scream so loudly….I bet the broker heard her all the way from my house

    January 12, 2011 at 8:08 PM #652609
    SD Transplant
    Participant

    Good stuff from both as usual…..thanks. Two quick notes: 1) my original (1st offer) GFE included the tax payments into my mortgage/escrow acct…so I knew I didn’t have to expect to see any taxes except for deadbeat’s and 2) I was aware & noticed all other credits on the HUD (so I didn’t ask questions about I could trace)….so your input is even more valuable 🙂

    sdr: That closing cost link made my wife scream so loudly….I bet the broker heard her all the way from my house

    January 12, 2011 at 8:08 PM #653199
    SD Transplant
    Participant

    Good stuff from both as usual…..thanks. Two quick notes: 1) my original (1st offer) GFE included the tax payments into my mortgage/escrow acct…so I knew I didn’t have to expect to see any taxes except for deadbeat’s and 2) I was aware & noticed all other credits on the HUD (so I didn’t ask questions about I could trace)….so your input is even more valuable 🙂

    sdr: That closing cost link made my wife scream so loudly….I bet the broker heard her all the way from my house

    January 12, 2011 at 8:08 PM #653336
    SD Transplant
    Participant

    Good stuff from both as usual…..thanks. Two quick notes: 1) my original (1st offer) GFE included the tax payments into my mortgage/escrow acct…so I knew I didn’t have to expect to see any taxes except for deadbeat’s and 2) I was aware & noticed all other credits on the HUD (so I didn’t ask questions about I could trace)….so your input is even more valuable 🙂

    sdr: That closing cost link made my wife scream so loudly….I bet the broker heard her all the way from my house

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