Posted by Matthew-Colorado on October 06, 1999 at 17:14:37:
If you are referring to the Title policy. Ask if they do 110% policies or “open-ended”. I pay 110% of the cost of one policy for both closings.
Simultaneous closing costs - Posted by Lisa-Dallas
Posted by Lisa-Dallas on October 06, 1999 at 16:35:08:
Hello,
Does anyone know of a good title company in Dallas that will not charge for 2 closing costs in simultaneous closings.
Thanks
Re: Simultaneous closing costs - Posted by Mark-NC
Posted by Mark-NC on October 07, 1999 at 16:18:58:
Lisa,
I generally find that most of them give you a break on it. All though there are 2 closings alot of the paperwork is familiar so they tend to take that into consideration. In NC my average closing costs on a dual closing is about $1,300. and that includes the appraisal. It will be different in each state depending on the state fee’s, tax stamps, ect.
Mark
Re: Simultaneous closing costs - Posted by Michael Morrongiello American Note
Posted by Michael Morrongiello American Note on October 06, 1999 at 21:32:37:
Lisa:
Many title companies must estatblish (2) two seperate escrows by law if they are taking in funds that are to be disbursed.
If you are buying at one price and then selling at a higher price (the classic Buy low sell High stratergy), why not consider simply assigning your contract rights to the ultimate purchaser who willl pay you for the right to step into your shoes under your contract terms? If this is not feasible because you want to keep your acquistion price confidential then simply figure the extra costs into each transaction as the cost of doing business.
Michael Morrongiello
Operations Manager
Re: Simultaneous closing costs - Posted by Craig
Posted by Craig on October 06, 1999 at 18:43:51:
If you are referring to the title companies own closing fees, you will probably not find one to do that unless you bring them a pretty considerable amount of business. They are performing 2 closings though, and it does not hurt to ask, but you should not really have a problem with paying for what you ask for. Plus you should always work these costs into your deal so that after you pay them you still make a enough money to make it all worth your while.