With our company, Chicago Title, escrow fees are based on the sales price of the home. Let me know what the price is and I will get you our quote. As an example, for a $500,000 sale, our escrow fee would be $2300 total (this is customarily split between buyer and seller). The title policy for a $500,000 loan, for the buyer is $635. Hope that helps. I am including a link below that shows who pays for what. Please wait for it to load. You can call me if you have questions.
If you are interested in getting more informtion on this let me know. Hope this helps
First Team Real Estate
If you check your GFE, it should be listed under the title fees. The lender has no control over those costs.
You should shop around with different title companies in your area to get better rates on fees.
Reference link: http://titlecompanies.net/
Yes 2% sounds high. typically all of your closing costs (escrow, title, mortgage etc...) run about 3% of your sales price. Most companies are usually competitive with each other. They have a base fee then charge so much per thousand. Sometimes they can add a lot of small junk fees which can add up. If you have not closed yet, I would try and negotiate with the escrow company on their fees. They are not in control of what the title or lender charges. Also included a link to an escrow I have used for 20 years. Good luck.