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Updated over 5 years ago, 09/26/2019
Surprise closing costs settlement fees
In contract to buy a duplex. Really 2 side by side semi-attached SFRs and got a 65% surprise in closing agency fees over estimate - the day after I drop off contracts and escrow check to settlement agent. The title insurance rate is fixed by state, no question there. The town certification fees, taxes, recording fee and transfer taxes etc no questions. The other agency fees previously disclosed in their fee structure are reasonable regarding doc prep and settlement.
However the settlement co. after the fact wants additional amounts. Especially annoying because its a cash deal from long term owner and seemingly not at all complex. I even gave them his paid tax receipts and have 20 years of paid water bills!
Abstract search fee of $200- isn't this already part of normal title insurance process thus a garbage fee?
Lien Letter fee of $850- isn't this already part title insurance process thus a garbage fee?
Plus they want their closing $1050 up front before processing!
Thanks