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How are escrow fees typically determined?

Asked by Trulia Los Angeles, Los Angeles, CA Thu Oct 25, 2012

Are they a flat fee, percentage of sale price, combo? Do they vary by escrow company?

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5
Kawain Payne, Realtor, Notary’s answer
Escrow fees are not set in stone.

You can estimate your total escrow fees to range from 2 to 3% of the purchase price.

There are many items covered in your "CLOSING COST" here are a few:r

Escrow fees, Title fees, recording fees, prepaid taxes, prepaid insurance .

Your HUD stament will outline ALL fees.

Fees can vary from one escrow company to the next. As a buyer you will more than likely not have a choice in what title / escrow company will be used. This is a right exercised by the seller.

Much SUCCESS to you.

Kawain Payne, Realtor
0 votes Thank Flag Link Fri Oct 26, 2012
BEST ANSWER
** First and foremost, escrow fees are negotiable.** Escrow fees will vary slightly between escrow companies, but not by much. They usually will charge a flat rate between $1 to $2 per $1,000 of the purchase price. What you need to look out for, are all the "add on's" (doc prep, handling fees, notary, ect.) Be upfront with them, and negotiate. They will work with you! Goodluck!
0 votes Thank Flag Link Thu Oct 25, 2012
The fee is determined by the Escrow Company and thus vary from Company to Company
0 votes Thank Flag Link Fri Oct 26, 2012
I agree with both Garrett and Douglas. One of the extra fees to watch for is the "Loan Tie In Fee." This is what an Escrow Officer will charge you for the signing of the loan documents. If a Notary is engaged for this process you will be charged acccordingly, but then escrow is not entitled to the Tie In Fee.

Good luck!

Bill Hooper
RE/MAX Westside Properties
bhooper@remax.net
0 votes Thank Flag Link Fri Oct 26, 2012
Some escrows services charge $200+ base price plus the $1 to $2 per $1,000.
Good luck.
0 votes Thank Flag Link Thu Oct 25, 2012
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