Real Estate Buyer's Costs
Estimated Costs Clients of Stress Free Settlements may be entitled to certain discounts on their next settlement. Items marked with a red$ may qualify for a discount.
A Settlement Sheet is divided into several categories as follows:
Buyer/Borrower Seller
Title Items:
Settlement fee $885 $500
Abstractor Fee (plus copies) $ 250e n/a
Surveyor $ 350e n/a
Owners Title Insurance -- DC $4.75/1000 See Chart below
-- MD $3.50/1000 See Chart below
Lender Title Insurance -- DC $3.75/1000
-- MD $2.50/1000
Binder Fee $included
Title Examination $included
Notary Public $included $included
Release Fee $included $included
Multiple payoffs (refis) $included $included
Title Clearance, if necessary $300/hr.
Miscellaneous fees paid to third parties if applicable:
Wire Fees $included $included
Courier Fees $included $included
Overnight (FedEx Fees) $included $included
FedEx Fuel Surcharges $included $included
Termite Inspection $50
District of Columbia Fees*
DC Transfer Tax 1.1%*
DC Recordation Tax 1.1%*
*1.45% if over $400k.
DC Recording Fees
Deed $75.00
Deed of Trust $150.00
Releases $40
*variances may occur after application of first time homebuyer, low-income homebuyer, and other tax abatements.
Montgomery County, Maryland Fees*
County Transfer Tax (1%) .50% .50%
State Transfer Tax (.5%) .25%* .25%
County Record Tax ($6.90/1000) $3.45/500 $3.45/500
Recording Fee
Deed $60
Deed of Trust $60
Releases $40/each
Maryland Withholding Tax for non-Maryland sellers
$6.75% of net for individuals
$8.25% of net for entities
*variances may occur after application of first time homebuyer (Borrower does not pay this .25%), low-income homebuyer, and other tax abatements as well as recently pending and enacted tax reductions at state and county levels. County taxes vary. First $50,000 of purchase price is exempt from County Recordation Tax.
Approximate Title Insurance Premium For Standard Policy. For Top of the Line Enhanced Policy add approximately 40%. Substantial Re-issue and Substitution Rate discounts up to 40% are often available with copy of prior title insurance policy.
District of Columbia
Contract Price Approx. Premium Contract Price Approx. Premium $100,000 $475 $700,000 $3,000 150,000 712 750,000 3,187 200,000 950 800,000 3,375 250,000 1,187 850,000 3,562 300,000 1,400 900,000 3,750 350,000 1,612 950,000 3,937 400,000 1,825 1,000,000 4,125 450,000 2,037 1,100,000 4,450 500,000 2,250 1,200,000 4,775 550,000 2,437 1,300,000 5,100 600,000 2,625 1,400,000 5,425 650,000 2,812 1,500,000 5,750 Maryland
Contract Price Approx. Premium Contract Price Approx. Premium $100,000 $420 $700,000 $1,050 150,000 462 750,000 1,140 200,000 504 800,000 1,230 250,000 546 850,000 1,320 300,000 588 900,000 1,410 350,000 630 950,000 1,500 400,000 672 1,000,000 1,590 450,000 714 1,100,000 1,950 500,000 756 1,200,000 2,250 550,000 798 1,300,000 2,550 600,000 840 1,400,000 2,850 650,000 945 1,500,000 3,450 Lender Items to Borrower may include:
"Points" 1 point =1% of loan amount
Appraisal\Application Fees
Credit Report Fees
Document Preparation Fees
Underwriting Fees
Flood Certification Fees
Tax Service Fees
Processing Fees
Interest Rate Lock-In Fee
Lender Prepaids:
Real Estate Tax Escrows
Hazard Insurance Escrows
Interim Interest
A Settlement Sheet is divided into several categories as follows:
Buyer/Borrower Seller
Title Items:
Settlement fee $885 $500
Abstractor Fee (plus copies) $ 250e n/a
Surveyor $ 350e n/a
Owners Title Insurance -- DC $4.75/1000 See Chart below
-- MD $3.50/1000 See Chart below
Lender Title Insurance -- DC $3.75/1000
-- MD $2.50/1000
Binder Fee $included
Title Examination $included
Notary Public $included $included
Release Fee $included $included
Multiple payoffs (refis) $included $included
Title Clearance, if necessary $300/hr.
Miscellaneous fees paid to third parties if applicable:
Wire Fees $included $included
Courier Fees $included $included
Overnight (FedEx Fees) $included $included
FedEx Fuel Surcharges $included $included
Termite Inspection $50
District of Columbia Fees*
DC Transfer Tax 1.1%*
DC Recordation Tax 1.1%*
*1.45% if over $400k.
DC Recording Fees
Deed $75.00
Deed of Trust $150.00
Releases $40
*variances may occur after application of first time homebuyer, low-income homebuyer, and other tax abatements.
Montgomery County, Maryland Fees*
County Transfer Tax (1%) .50% .50%
State Transfer Tax (.5%) .25%* .25%
County Record Tax ($6.90/1000) $3.45/500 $3.45/500
Recording Fee
Deed $60
Deed of Trust $60
Releases $40/each
Maryland Withholding Tax for non-Maryland sellers
$6.75% of net for individuals
$8.25% of net for entities
*variances may occur after application of first time homebuyer (Borrower does not pay this .25%), low-income homebuyer, and other tax abatements as well as recently pending and enacted tax reductions at state and county levels. County taxes vary. First $50,000 of purchase price is exempt from County Recordation Tax.
Approximate Title Insurance Premium For Standard Policy. For Top of the Line Enhanced Policy add approximately 40%. Substantial Re-issue and Substitution Rate discounts up to 40% are often available with copy of prior title insurance policy.
District of Columbia
Contract Price Approx. Premium Contract Price Approx. Premium $100,000 $475 $700,000 $3,000 150,000 712 750,000 3,187 200,000 950 800,000 3,375 250,000 1,187 850,000 3,562 300,000 1,400 900,000 3,750 350,000 1,612 950,000 3,937 400,000 1,825 1,000,000 4,125 450,000 2,037 1,100,000 4,450 500,000 2,250 1,200,000 4,775 550,000 2,437 1,300,000 5,100 600,000 2,625 1,400,000 5,425 650,000 2,812 1,500,000 5,750 Maryland
Contract Price Approx. Premium Contract Price Approx. Premium $100,000 $420 $700,000 $1,050 150,000 462 750,000 1,140 200,000 504 800,000 1,230 250,000 546 850,000 1,320 300,000 588 900,000 1,410 350,000 630 950,000 1,500 400,000 672 1,000,000 1,590 450,000 714 1,100,000 1,950 500,000 756 1,200,000 2,250 550,000 798 1,300,000 2,550 600,000 840 1,400,000 2,850 650,000 945 1,500,000 3,450 Lender Items to Borrower may include:
"Points" 1 point =1% of loan amount
Appraisal\Application Fees
Credit Report Fees
Document Preparation Fees
Underwriting Fees
Flood Certification Fees
Tax Service Fees
Processing Fees
Interest Rate Lock-In Fee
Lender Prepaids:
Real Estate Tax Escrows
Hazard Insurance Escrows
Interim Interest
