Title Company Buyers Closing Fees
Been doing this for about 20 years, first time I ran into this. Closing on a Freddie Mac owned property on Wednesday. I did agree to use their title company.
Get the preliminary closing statement, title companies fees are 2.5 to 3 times higher than what I have paid in the past. Plus they are trying to get me to pay $200 for the title search. I indicated that the seller pays for the title seach, as they are providing the policy and deed, if they wished to issurance title insurance without a search that is fine with me.
Additionally charging $200 for lender's coverage even though the lender doesn't require its own coverage, my owner's policy will suffice or need title binder.
Title company just indicates that these are their standard fees. And since I am getting financing I have to pay this additional fee.
Financing is structured as I have always done it, never charged this fee. Any suggestions??
Complain and walk away from closing. They will call you back and renegotiate their fees. With the attitude of "I don't need this house" things seem to go a lot smoother. The title company is just trying to screw you IMHO. Don't let them and everything will go fine...just a bit delayed.