As buyers of our first home in Bayou Vista, Texas Galveston County , can you explain the fees charged by the title company.
The ‘closing’ or final settlement and transfer of ownership for your home in Bayou Vista Texas, Galveston County will include the listed items & cost. Please be aware that different title companies can charge different amounts. These costs are not mandated, but should be competitive.
1. Mortgagee Policy: The policy that protects the lender from future claims of ownership (other than the mortgagee) on the mortgaged property. This is a must when using a mortgage to purchase a home. [ $150.00 ]
2. Attorney Fees: Fees paid to the attorneys for drawing up the promissory note of payment and deed of trust. The Deed of trust is the security for your loan and is recorded in the public records. It includes you the borrower (Trustor) the holder of the legal title (Trustee) and the beneficiary (Lender). It includes all of the terms of the note. Original loan amount, legal description of the property, inception and maturation of the loan, requirements of the mortgage, late fees, legal procedures. [ $250.00 ]
3. Recording Fee: The fee charged by the county recorder’s office to record the document a public record. [$120.00 ]
4. Escrow Fee: Payment for the services of the Escrow agent (company) [$200.00 ]
5. Notary Fee: Fee paid for notarizing of legal documents. [$10.00 ]
6. Survey: An Engineer or land survey specialist will measure the boundaries of the property and make a legal drawing. [$380.00 ]
These are just the fees charged by the title company for the settlement of your documents to purchase your home in Bayou Vista Texas, Galveston County . Should other fees be added to your closing statement they could include, lender fees, pre-paid costs such as (property insurance, mortgage insurance, taxes) you will receive a final HUD statement which will break down each amount specifically. We will review the HUD together before the day of your closing.
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