I don't know about out there, but escrow accounts are generally required for earnest money.
I put down about 2 percent.
Generally you pay for homeowners/landowners title insurance.
Mine Broke down as follows:
Closing fee $300
Title Insurance $150 (which I think is a little high based on what I have read, but I am not sure if it is worth the trouble to irritate the attorney and find my own, besides he charged me for title examination. Yes I just looked at it. The little SOB attorneys are getting $112.50 of the title insurance, and they are paying the title insurance company $37.50. What a crock. My closing is soon, and I am going to see if I can find it cheaper elsewhere. They are not the only law firm out there if push comes to shove.
Title Examination $125
Deed Recording charge $10
Transfer taxes $9
They will give you a HUD-1 form before closing which breaks everything down.
I don't know what half of escrow everyone is talking about means.
I have to buy my own title insurance, and survey if I want one. I am having second thoughts about title insurance, because I believe it only covers the purchase price. For example, if you were to buy title insurance on $25,000 land deal, and somehow something was missed and you were forced to return the land, you would only get $25,000 back, as far as I know, so if you built a $200,000 house, then I guess you would be out the price of the house unless you got it moved. In my case, I am also going to have to have a well dug (pretty hard to take with you), a septic tank along with grading/leveling and preparing the property for a home, and getting a propane tank most likely (which would be the only thing I would be able to take with me), and I would have to pay to get the home moved. Makes you wonder if it is really worth it. If I am wrong about this, please correct me.