FEES!!!!

how much does the lawyers fee and inspection fee run for??

Re: FEES!!!!

lawyers: between 800-1000 typically
inspections: 250-500

Re: FEES!!!!

Our inspection was $350.

Re: FEES!!!!

Our lawyer was $800 and inspection was $300 or $400 (i forgot)

Re: FEES!!!!

what about title?? what other fees are there?

Re: FEES!!!!

Posted by PiyoPika566

what about title?? what other fees are there?

Re: FEES!!!!

Ask your lender for a "good faith estimate" and all the fees will be listed on there.

Just don't forget that the "lawyer fee" on the GFE is not for you. Thats the banks lawyer. You still have to get your own lawyer.

Same with the inspection. Even though there is an "appraisal fee"... you still should get your own inspection done.

Re: FEES!!!!

thank you everyone!!! I was seriously confused before, please excuse this newbie

our closing cost is being rolled into our mortgage on the GFE, the estimate is $14,498.. can it really get this high?
The mortgage broker said he estimated a little higher for us so we'll have a little wiggle room.....

so that means all the fees are covered, we just have to pay for the lawyer + house inspection up front ?

*scratch head*

Re: FEES!!!!

I sent you my details of what we paid in FM. According to my documents that I just took out we paid seperately for our lawyer and title fee (which together were $850).
Everything else was one big check.
DJPILL is right, that other lawyer fee I saw was the banks lawyer, that was $600.
You might also have to write a personal check to the sellers for oil left in the tank (if you have an oil tank) \

ETA: Sorry if I confused you.. these things can get really confusing, can't they

Message edited 8/22/2005 10:11:15 PM.

Re: FEES!!!!

Compare what you are paying to what Julz sent you and see.

Keep in mind that a lot of the "800 section" in the GFE can be "waived". Like the application fee. If you complain about the GFE being too expensive... they will waive stuff like that and the "document fee" and some other stuff.

I would have paid $9000 on my GFE if I found a house... and about $11000 if I would have had my property tax and HOI escrowed.

Re: FEES!!!!

Julz, you didn't confuse me, I am confused and clueless about this whole thing to begin with!... so bear with my questions, I need to learn this fast!

ETA: DjPiLL - thanks for the tip about the "800" section, I am definetely going to complain and see they can do anything for us about it!! One of the fees listed is the appraisal fee and it's in (xxx) and POC is checked... what is POC? what is PFC??

where is the *footnotes* for this form??? blah!

Message edited 8/22/2005 10:27:55 PM.

Re: FEES!!!!

From the day we made the offer until we had the keys in our hands (not including our down payment) we spent A little over 25K.

This included EVERYTHING, lawyer, inspection, survey, all closing costs and taxes.

Our lawyer was $750
Inspection was $400 - included termite cert.
Survey $500
Homeowners Ins $900

And the rest wwas all of those things on the GFE.

It ended up about $4000 more than our original GFE.

I found out at closing that our GFE had been revised several times as we approached closing but we never saw the updates. Ask your mortgage broker or bank for an updated one a week or so before closing if you can.

MSN Home has a great section on closing costs.

Offer to close road map

Re: FEES!!!!

thanks Patti, this is very helpful!

Re: FEES!!!!

Don't forget some of what you are paying is NY state mortgage tax wich can be a big portion. You may also be able to get some of your title fees reduced-ask your broker if he can get any if the search fees reduced(usually a broker will use the same title co for all their deals so they may have some pull for discounts) There may be fees called document processing or application fee, make a stink about those even threaten to pull your deal and they may reduce or remove them

Re: FEES!!!!