innvisioninc, Home Buyer in Sacramento, CA

when selling for 1.2 mil and spliting the escrow fees 50/50 escrow to charge 1.95 per thousand to each party a 195 base fee = 2535 for sel & 2535

Asked by innvisioninc, Sacramento, CA Tue Jul 9, 2013

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7
Eddie Martini, Agent, Auburn, WA
Wed Jul 24, 2013
Is there a question or are you wanting to have your math confirmed? Depending on Title and escrow company chosen your closing fees can vary. your basic math above checks out..
0 votes
Morgan Larson, Agent, Folsom, CA
Fri Jul 19, 2013
There are various fees when it comes to selling your home - and all can be negotiated in the contract. The buyer could pay all, the seller could pay all, it could all be split 50/50, or any combination within. Besides these fees there are still recording, doc prep fees, notary fees, etc. And don't forget your realtor professional fee!

A sample scenario @ 1.2 mil could look like this:
Escrow Fees Split 50/50 buyer and seller: 688
Title Fees paid by seller: 2.632
County Transfer Tax: 1.320

If you have further questions about selling your home, feel free to contact me at anytime. At $1.2 mil, you are definitely in the Sacramento luxury market, and working with a Certified Luxury Home Marketing Specialist has it's advantages.

Best of luck!
Morgan Larson
http://www.morganlarson.com
916-241-8788
0 votes
Santiago Ken…, Agent, Chicago, IL
Fri Jul 19, 2013
Thats a great question for an Real estate attorney
0 votes
Jaime Becker, Agent, Sacramento, CA
Wed Jul 10, 2013
It sounds like you are really concerned about the escrow fees on your home. Have you talked to a Realtor yet? If I were you I would definitely get in touch with a Realtor so that they can go over the fees with you. There is no price per thousand when it comes to escrow. The escrow companies set their own fees and usually base it on between this price and that price. For example : Sales price $250,000- $255,000 the total escrow fee would be $655.00. Does that make sense. Same with title.
Your transfer taxes are as follows:
City- .275% of sales price
County- 1.10 per thousand of sales price

An estimate for $1.2 mil split 50/50 is $687.00.
Does that help?
0 votes
Ed Favinger, Agent, Folsom, CA
Tue Jul 9, 2013
Hi there...

I don't know where you are getting your figures, but I just ran a spread sheet the Fidelity Title gave us to use in calculating closing costs for Buyers and Sellers.

The escrow fee according to them is $1,425.00.... and if you wanted to ad the "title fees" that figure is $3,542 which comes to a total for both at $4,967.

So looks like you are picking not only 1/2 the "escrow" fee, you're also kicking in for one half of the "title insurance" fee.

Talk to your Real Estate Agent/Broker.

I hope this helps.

Make it a Great Day...!
0 votes
DeeDee Riley, Agent, El Dorado Hills, CA
Tue Jul 9, 2013
I would calculate it as 1,200,000/1000= 1200 x 1.95= 2340 total. With this being said, I believe you are referring to the county transfer tax which is calculated that way. Escrow is it's own fee charged by the title company and is often split depending on the county the home or property is in.

Not sure what you are asking but hope this helps.

DeeDee Riley
Lyon Real Estate - El Dorado Hills
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Tue Jul 9, 2013
This is the third version of this question that you are asking. As I said, ask your listing agent. If you aren't going to do that, contact one of us. I can pull up my tool that the title company has provided us and pull it that way.

This seems to be a concept that is giving you some difficulty in understanding.
0 votes
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