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A standard Lender's Title Insurance Policy is usually required if the purchaser is financing any portion of the purchase price. The cost of this policy is $3.75/$1,000 of the loan amount for the first $250,000 and $3.25/$1,000 from $250,000 to $500,000, and $2.75/$1,000 from $500,000 to $1,000,000. Most purchasers opt to purchase Owner's title insurance, which is $4.75/$1,000 of the sale price for the first $250,000 and $4.25/$1,000 from $250,000 to $500,000, and $3.75/$1,000 from $500,000 to $1,000,000. When an Owner's Policy is issued, a Lender's Policy can be issued for a $25.00 simultaneous issue fee. If a seperate settlement sheet and documents are required by the Lender to close a second trust, an additional settlement fee of $125.00 will apply.

Since January 2000, unless Purchasers have requested standard title insurance, Key Title has been issuing enhanced Owner's title coverage which costs $5.70/$1,000 of the purchase pricefor the first $250,000 and $5.10/$1,000 from $250,000 to $500,000 and $4.50/$1,000 from $500,000 to $1,000,000 plus the above indicated title binder fees. In addition, if applicable, the simultaneous issue fees will apply if the Lender's Title Insurance Policy is issued in conjunction with the Owner's Policy. Title insurance policy information Policy pamphlets are available for review.

Recording Fees and Taxes

The purchaser will pay the fee charged by the City to record both the Deed and the Dee of Trust, which will generally range between $50.00 and $100.00. The Purchaser usually pays the recordation tax, which is 1.1% for sales prices of less than $400,000. For a sales price over $400,000, the recordation tax is 1.45%.

The Seller usually pays the transfer tax, which is 1.1% for sales prices of less than $400,000.   For a sales price over $400,000, the transfer tax is 1.45%.

The Seller will pay the fee charged by the City to record the certificate of satisfaction, which is generally $26.50 per certificate (or loan on the property).

If a survey is requested or required, Key Title will charge an additional $50.00 survey review fee.   All fees are subject to change and any extraordinary services will be subject to additional charges.