If curious about what goes into a settlement fee, Potomac, MD residents can count on Eastern Title and Settlement for honest answers. Settlement fees, also called closing costs, are necessary parts of all real estate transactions. They are the expenses relating to purchasing a home or commercial property.
Come to Eastern Title and Settlement for convenient settlements at competitive rates. We’ll come to your home, office, or elsewhere to complete a property settlement agreement. Our team is dedicated to offering trustworthy, comprehensive sales, closing, and other real estate transaction services. See all our services for more information.
What Goes Into a Settlement Fee in Potomac, MD?
One of the first questions you may have when closing on your dream home is: “What does the settlement fee include?” It’s common – and wise – to ask what expenses go into closing costs. Otherwise, you could blindly pay way too much for your final settlement. Working with a licensed settlement agent can help you get answers relating to your specific transaction. In the meantime, here are a few common things that go into a settlement fee in Potomac, MD:
- Fee for originating the loan
- Points (percentage of a loan amount)
- Loan underwriting fee
- Property appraisal and inspection fees
- Pest inspection fee
- Flood risk determination fee
- Title search fee
- Title insurance cost
- Charge for a credit check
- Attorney fee
- Land survey price
- Document preparation
- Price of a notary
- Transfer tax
As you can see, a settlement fee can include dozens of different fees, costs, and expense categories. The exact expenses will depend on your particular property and the professional services you choose to help with the transaction. On average, closing costs usually equal 2-6% of the amount of a home’s mortgage. If your mortgage amount is $280,000, for example, closing costs could range from $5,600 to $16,800. There are steps you can take to potentially minimize the amount of your settlement fee depending on your transaction.
How to Get the Best Rate on a Settlement Fee in Potomac, MD
Settlement fees in Potomac, MD aren’t set in stone. They can vary according to the inspection and appraisal processes, the integrity of the title, what an attorney charges, your credit score, etc. Although it’s impossible to avoid closing costs completely, you may have a chance to reduce the amount you’ll have to pay as a settlement fee with the right company organizing the real estate transaction. A great title and settlement group may be able to negotiate fees, compare costs, reevaluate loan estimates, save on points, waive appraisals, and more.
Another way to lessen the burden of closing costs is to go with a settlement agency that can come to you for maximum convenience. Eastern Title and Settlement has licensed and insured settlement agents who can conduct closings virtually anywhere in the areas we serve – at your home, office, or one of our locations. We’ve performed hundreds of closings for clients in over 20 years of combined experience. We can close on homes in five different languages. Get to know us better.
Our title and settlement company has years of practice helping buyers and sellers with their real estate transactions, from title searches to closing processes. We can answer your questions about settlement fees and help you secure the best possible rates. Our staff stays up-to-date with the latest facts and information on the real estate industry and market in Maryland. We have everything you need to feel confident during closing.
Get Help With a Settlement Fee in Potomac, MD
Settlement fees might be an unavoidable part of closing on your dream property, but that doesn’t mean they have to create a roadblock for your ideal future. Learn everything there is to know about closing costs with help from experienced professionals. The team of agents at Eastern Title and Settlement want to make every process involved in real estate buying easy on you. We can condense the real estate buying processes and save you money. Whether the goal is to get a comprehensive title search at competitive rates or to save on settlement fees, Potomac, MD citizens can call us at (240) 403-1285 for assistance.
Eastern Title offers commercial title and escrow services, such as title insurance, settlement services, as well as commercial and residential purchase agreements. Our company has more than two decades of combined experience in the business.
We are committed to helping our clients with various aspects of residential and commercial property transactions, such as refinancing, land titles, and purchase agreements. Count on us to go the extra mile to make sure that you have a good experience with us, whether you are buying, selling, or developing a property.
Over the years, we have been serving clients from Maryland, Virginia, and Washington, D.C. Some of our clients include contractors, developers, lenders, realtors, investors, attorneys, and borrowers. Mortgage brokers, as well as house sellers and buyers, have also reached out to our company for assistance.
Recently, we have extended our services to residents of North Carolina, South Carolina, Tennessee, and Florida. We are excited to work with more clients in other locations.
Eastern Title: Our Services
Here are some of the services offered by our company:
- Commercial and Residential Purchase Agreements
Purchasing, selling, or developing a property entails a lot of paperwork. Seek help from an established and experienced firm. Eastern Title can help simplify the process for you. We are experts in providing comprehensive sales, as well as closing and land title transactions.
- Lot and Land
Eastern Title has extensive experience in handling different land transactions. We can assist you if you are looking for a lot or a land parcel. Whether you are buying or selling a land or lot, count on our trained staff to help you find the best deals and succeed with your transaction.
- For Sale by Owner (FSBO)
Put your house up for sale, find a buyer, and secure a great deal without a real estate agent representing you. At Eastern Title, we can simplify the process of selling your home without paying for a real estate agent. Our company can assist you with closing and land title transactions for both residential and commercial properties.
Are your looking for ways to lower your mortgage payment every month? Or are you figuring out how to fund your home improvement project? Are you wondering how you can better pay your loan? Turn to us for assistance with the different aspects of refinancing. We can help you make better financial choices and get the best possible rates.
- Builder and Construction
Our clients’ interests come first whenever we transact business with them. Rely on us to help you with your construction agreement, and we will make sure that you will get the results that you want.
- REO and Short Sale
Trust none other than Eastern Title to help you in purchasing or selling pre-owned and foreclosed properties. We can readily assist you with REO as well as short sale real estate deals.
- Title Search
A title search is the process involved whenever there is a change of property ownership. This includes retrieving documents and public recorded acts, such as liens, judgments, contracts, or mortgages, to check a property’s legal condition.
Memberships and Associations
Our company is affiliated with the following organizations:
- Better Business Bureau
- Department of Insurance, Securities and Banking
- Maryland Insurance Administration
- Fidelity National Title Insurance Company
- North American Title Company
- Rockville Chamber of Commerce
- Virginia State Corporation Commission
- The National Notary Association
- Prince George’s County Association of REALTORS
- The Prince George’s Chamber of Commerce
- The American Land Title Association
Get in Touch With Us
If you need help with your residential or commercial real estate transaction, turn to Eastern Title. Give us a call at (240) 403-1285 or send us an email at [email protected] Our admin offices are open from Monday to Friday, from 9:00 a.m. to 5:00 p.m. You may also visit our website at www.easterntitle.net to learn more about our services. We look forward to serving you!