Wednesday, March 18, 2020

How to Avoid Junk Title Fees

Have you ever wondered why there are so many junk fees on your settlement statement?  Besides the junk fee of the listing agent, take a look at all these fees from a recent transaction.     All of this $24,000 comes off my sale price.   That is ridiculous!   

$595.00          Broker Commission (Listing)
$11,564.00  Commission Listing
$8,260.00  Commission Selling
$400.00          Home Warranty
$1,793.00  Pay First Half Taxes 2020
$25.00          Seller Closing Admin. Fee - Net Proceeds and Document Handling to Burnet Title
$110.00          Seller Closing Admin. Fee - Payoff Verification & Processing to Burnet Title
$150.00          Seller Closing Admin. Fee - Pre-Sign and/or Power of Attorney Service to TitleSmart 
$30.00          Seller Closing Admin. Fee - Preliminary Services to TitleSmart, Inc
$395.00          Seller Closing Administrative Fee to TitleSmart, Inc.
$161.00          Water Bill Current and Estimated Final to City of Apple Valley

What a scam!   $24,000 to the title company for what?   I think title insurance is important, but the rest is really junk.  Obvy I need to pay the taxes and the water bill, and the home warranty was a negotiation point in the PA, but with commissions and the title fees, that's over $20,000. 

Good news, there is a solution to these fees.    You don't have to pay any of them!  None!  (except the taxes and the water bill).    If you sell your house by yourself, you avoid all of those fees.  And good news, a company like mine, or any company just like mine, can help you because we buy houses.   I can't remember the last time I had to pay these fees.  What a waste.  Good job Title Smart and Burnet Title.   That's a good little scam.   #avoidtitlefees

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