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Serving the Greater Area of
DC, Maryland and Virginia

Fees

PURCHASER’S SETTLEMENT FEE SCHEDULE

Purchase Transaction

These fees are to be used for good faith purposes only and are subject to change in connection with lender requirements, contract and loan amount adjustments.

Total settlement fee is $800 and includes the following services:

  • Closing / Settlement Fee
  • Title Abstract Fee
  • Electrical / Technical / Administrative Fee
  • Title Binder
  • Tax Certificate
  • Notary Fees
  • Courier

Please note: The settlement fee does not include the cost of a survey as it is an additional service and may not be required for all transactions. If it is required by your lender the cost is approximately $225 in DC, Maryland and Virginia.

** Additional charges will apply when there are two loans. There is a $100 fee in addition to the settlement fee for closing second mortgages.

** Powers of Attorney - there is a $75 charge for preparation of a power of attorney.

Calculate Settlement Fees

** REISSUE CREDIT - SAVINGS!!!
When the home you are purchasing has an existing owners insurance policy, you may be entitled to a discount on the new policy. We will ensure, where such coverage exists, that you receive a reissue rate on your new insurance.

Recordation and Transfer Charges

There are typically three government taxes which are charged when transferring real estate in Virginia; a state recordation tax (also known as the Grantee tax), a state transfer tax (also known as the Grantor tax), and a county transfer tax. The Purchaser usually pays the state recordation tax and the county transfer tax, while the seller usually pays the state transfer tax. When refinancing, the state recordation tax and the county transfer tax is paid by the borrower, the state transfer tax is not collected.

Recordation and Transfer Charges

There are typically three government taxes which are charged when transferring real estate in Maryland: a state recordation tax, a state transfer tax, and a county transfer tax.

Note: not all counties collect a transfer tax.) Maryland state law dictates that, unless otherwise provided in the contract, transfer and recordation taxes are to be split equally between the purchaser(s) and seller(s). If the purchaser(s) is a first time homebuyer(s) in the State of Maryland, Maryland law exempts the purchaser(s) from paying any state transfer tax and requires the seller(s)to pay a transfer tax of .25% of the purchase price.

When refinancing, typically only state recordation taxes are collected. These taxes are collected on the difference between the principal of the existing loan being paid off and the principal of the new loan.

Recordation and Transfer Charges

The District of Columbia has both a recordation tax and a transfer tax. These two taxes are each 1.1% below $400,000 and 1.45% above $400,000 of the contract sales price. Unless otherwise negotiated the purchaser usually pays the Recordation tax of 1.1% or 1.45% and the seller usually pays the Transfer tax of 1.1% or 1.45%.

The District of Columbia charges no transfer or recordation tax on the refinance of a property which has four or less units. If the property has five or more units, D.C. charges full recordation and transfer taxes on the mortgage or deed of trust amount.

  • Is the purchaser a first-time homebuyer in the state of Maryland?
  • Who pays taxes
  • Will the property be occupied as your principal residence
  • Please contact our offices for other Counties within the State of Maryland
  • Is the property five or more units?

Transfer Tax (Deed)
0.00
Transfer Tax (Trust)
0.00
Recording Fees
0.00
Total
0.00
  • Buyer

    County Transfer Tax
    0.00
    State Transfer Tax
    0.00
    State Recordation Tax
    0.00
    Total
    0.00
  • Seller

    County Transfer Tax
    0.00
    State Transfer Tax
    0.00
    State Recordation Tax
    0.00
    Total
    0.00
  • Total

    County Transfer Tax
    0.00
    State Transfer Tax
    0.00
    State Recordation Tax
    0.00
    Total
    0.00
Transfer Tax
0.00
Recording Tax
0.00
Recording Fees
0.00
Total
0.00