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Cost Information
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Title Insurance Rates Title insurance rates vary depending on the size of the transaction and the location of the property. Please call or email us for a quote for your transaction. Tennessee Closing Cost Information Tennessee transactions are subject to transfer tax and mortgage tax. The transfer tax is calculated at 37 cents per $100 of consideration. The mortgage tax is calculated at 11.5 cents per $100 of indebtedness, with the first $2,000 of indebtedness being exempt from the tax. Recording fees are $5.00 per page, plus a $2.00 clerk’s fee and a $1.00 computer fee per document. Residential Closings Our residential closing fee is $375.00. Mobile closing services are provided throughout Shelby County at no additional charge. If you require a mobile closing outside of Shelby County, please call or email us for a fee quote. Residential purchasers should also be aware that their mortgage lender will typically require one year’s homeowner’s hazard insurance to be prepaid at closing. They will also typically require two months’ property taxes and insurance to be escrowed, so that the mortgage escrow account will have sufficient funds on hand to pay taxes and insurance premiums as they become due. For a FREE detailed estimate of the closing costs you can expect to pay for your home purchase, please feel free to call or email us. You will also need to provide us with a copy of your lender’s good faith estimate and an estimated closing date for your transaction. Commercial Closings Our standard commercial closing fee is $1,000, and will be split equally between buyer and seller unless the contract for purchase and sale provides otherwise. The fee may be more or less depending on the size and/or complexity of the transaction, and whether we are required to travel to the closing. To discuss the closing fee for your upcoming commercial transaction, please call or email us. National Closing Cost Information Closing costs vary depending upon the location of the subject property. We have access to closing cost information for all 50 states. If you require closing cost information for a state other than Tennessee, feel free to call or email us, and we will provide the requested information as soon as possible. . |
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