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 $600 and includes the following services:

• closing / settlement fee
• Title Abstract Feee
• 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.

** 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.

Title Insurance

** REUSSUE CREDIT - SAVINGS!!!
When the home you are purchasing has an existing owners insurance policy, you are entitles 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

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.

*Although the calculations on this page are deemed to be accurate, Stewart Title Group does not guarantee or warrant the results herein. Because many factors affect the amount of taxes collected by the counties and state, you should speak with one of our attorneys or a county clerk in Virginia in order to get a more accurate figure.