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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

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