Our closing related fees are detailed below, and title insurance premiums are based on our underwriters’ rates as filed with the State of Colorado. Title insurance premiums for our underwriters, American and Western, are available though Colorado’s department of Regulatory Agencies or on their respective websites, or e-mail firstname.lastname@example.org with the county and purchase price and property type for a quote.
TITLE INSURANCE COSTS
Title Insurance charges are based on the rates filed by our underwriters. We have included the portions of that filing that we use most often here for reference. Note that title insurance premiums for purchase and sale transactions are collected only if and when we close, and the owners’ title policy will be charged to the seller or buyer based on the corresponding provision of the parties’ purchase and sale agreement.
OWNERS’ POLICIES: View the rates applicable to the counties for which we most frequently close. Reissue rate discounts will be automatically applied where available (such as for residential transactions where a prior policy has been issued in the past 5 years, with a 50% discount in years one and 2, and a 30% discount in years 3 – 5).
LENDERS/LOAN POLICIES: First American’s “bundled” loan rates, which rates include the following endorsements at no additional charge, if requested and available for the particular property: 8.1, 100, deletion of 1-4, 100.29; and 115.1 and 115.2, if applicable. Lenders also often request GAP coverage, which is an additional $50 charge, and (if there is a manufactured home) lenders frequently also request Endorsement 115.3 mobile home coverage, which may be available for an additional $50. In addition to the Policy Premium, First American is now charging a $25 charge for each CPL issued in a transaction.
All fees that we may charge are filed with the Colorado Division of Insurance, and full fee information is available by clicking here. Unless you are closing a front range transaction, the below fees should be all you need to know:
OUR CLOSING FEE
Represented Sale – $250
Unrepresented Sale (no realtor/agent/attorney on either side) – $500
If you elect to have us send you a closing package via overnight courier, that is generally charged at $40 per package per direction.
WHAT TO EXPECT ON YOUR SETTLEMENT STATEMENT
In addition to our closing fees and the title insurance costs noted above, your bottom line will be affected by prorations for real estate taxes and any owners’ association assessments, final water/sewer bill(s) and related transfer fees, payoffs to mortgage lenders, credits/debits for propane or other applicable items, and other matters if referenced in your contract or if required based on the title search. Our closers are happy to talk through any questions you may have about these matters.