when you submit the original contract and the contract assignment to the title or escrow company for settlement what is the cost usually? and is it an upfront payment? and who usually pays the cost?
Thanks for your help
Title and escrow costs vary depending on the amount of the sale and to some extent how complicated the transaction is. Your escrow and title companies normally have rate cards that they will show you with what the costs are.
Normally all you do is deposit the earnest money. They handle the paperwork and normally get paid out of closing. If the transaction doesn’t close - a few things may be charged like a prelim title report, etc - at the time the deal is officially cancelled. WHo pays for what depends on what was done and what the PC said on who was responsible for paying it.
The costs can also be different depending on your area of the country. It’s a good idea to talk to a least 2 title companies in your area and find out what their rates are.