Home Buying in San Diego>Question Details

danielfingle…, Home Buyer in San Diego County, CA

What is the typical Cost of Escrow?

Asked by danielfingleton, San Diego County, CA Wed Sep 19, 2012

Hi, I am trying to understand how much to expect to pay the escrow company. I am buying a home and the escrow company is owned by the seller and we splitting the cost 50/50 but I am concerned if they are going to charge a higher than normal fee

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Be aware a few companies offer an all-inclusive escrow fee. Most others have a base escrow fee and charge additional fees for extra services - loan document printing, accepting e-mailed documents, loan "tie-in" fees, sub-escow fees, etc.

I would be more concerned about using an escrow company owned by the seller than the actual fee. Unless you are dealing with a newly constructed property, I would question why one would allow the seller to have direct control over the escrow. Escrow is supposed to be a neutral third party who follows the mutually agreed instructions (purchase contract and associated documents) of the transaction's principals.
1 vote Thank Flag Link Wed Sep 19, 2012
It depends upon the company and the purchase price. You might call a handful of escrow companies, give them the same purchase cost, and note the differences among them.

Generally, the listing agent and seller decide escrow in San Diego. If however, you find that the price of their company is significantly higher, than have your agent negotiate a different escrow company.

Good luck.
0 votes Thank Flag Link Wed Sep 19, 2012
Escrow fees depend on the purchase price. The best thing to do is call a few of the major escrow companies servicing your area and ask them what the buyers fee is and what the seller's fee is for your negotiated price. They should be within about $150 of each other.
0 votes Thank Flag Link Wed Sep 19, 2012

Each escrow company has their own fees, depends on the purchase price, but I would say about a $1,000 for a purchase. Best of luck, next time hire a REALTOR

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
efax 619-270-2516
0 votes Thank Flag Link Wed Sep 19, 2012
I do have a realtor. I am just educating myself with a different source.
Flag Wed Sep 19, 2012
Approx $400.00 per 100K of the purchase price. It is based on the sales price.

George Pappas, Realtor/Broker
0 votes Thank Flag Link Wed Sep 19, 2012
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