Title Company Fees

Guy Said:

Can a finance company keep the title to a car pending payment of late fees ?

We Answered:

yep -- because they know if the release the title there chances of getting the late fees goes out the window!!! check the find print - they may be able to sale it and keep there fees and send you a check!!!

Bill Said:

what are closing cost and does the title company charge a fee ?

We Answered:

this is not free. go to a title company and ask them to perform the closing

closing costs for seller can include:

1) closing fee to title company
2) title insurance policy you purchase for the buyer
3) survey you buy if seller requires one
4) real estate tax pro ration up to day you sell home

Andre Said:

I refinanced my home 3 years ago. The title company did not charge me enough doc stamp fees.?

We Answered:

If you purchased title insurance, that should cover it, just contact the title company and let them know what is happening.

If not, you will have to pay up. But I would contact the title company to see if they will work with you on this issue.

Vickie Said:

How much is a mortgage title fee? Do I choose the title company or is one chosen for me?

We Answered:

A seller's title insurance policy typically runs somewhere around 0.7% of the sale price in my area (Chicago) but can vary depending on where you are.

It is customary for the seller to choose the title agency since he/she is the one who pays for the policy. A buyer will typically have to pay for their own buyer's policy (at a much lower rate) if required by their lender. The sales contract will specify who is responsible for what.

If the seller doesn't have a preferred title company, it will typically be chosen by his/her real estate agent, attorney or mortgage broker, whom receives a commission from the title agency for placing the business with them.

Judith Said:

My title company failed to collect HOA fees at closing. Who is responsible?

We Answered:

You probably have to pay them, since they were not collected at closing. If you have the HUD 1 settlement statement, and an amount is not reflected for HOA, then it was not a part of you closing cost, and you are right the title company did not do their job, however it may not have been a condition of your new lender. Just a clerical error and it was overlooked.

As far as making payment arrangements that up to the assoc., discuss with them..if they are stubborn, think about refinancing to cover your arrears, maybe get a lower rate.

email me we can discuss your options. jimbobmrjimn@yahoo.

Amy Said:

When purchasing a property it is the BUYER that pays all of the title company Fees? True or False?

We Answered:

You can delegate who pays closing costs, the seller or the buyer, talk to your mortgage guy, he should know about that. . You can even claim the seller will pay them, just adjust the sale price to cover them so the buyer actually is, just looks like the seller is on paper.

Discuss It!