Settlement Costs are made up of the following categories:
settlement fees charged by Venture Title; title insurance premiums; transfer and recording
costs; and, charges and expenses required by the mortgage lender. The expenses
required by the lender vary considerably depending upon the individual situation. The
other expenses are predictable and the following tables and Venture Title's
online estimator provide a good estimate of them.
Settlement Fees
Below are rate schedules to help you
estimate Venture Title's fees for your settlement. Print these for reference or use
our online estimator to calculate your
fees now!
SETTLEMENT FEE:
$375.00
(Includes title search, escrow and recording service)
DOCUMENT PREPARATION: $100.00
Title Insurance
Title
Insurance protects against future losses arising
out of events that have happened in the past.
Title Insurance places
the assets of an insurance
company behind the title to your home. If attacked,
the title will be defended without cost to you. You will
be reimbursed for any financial loss incurred up to
the face amount of your policy.
Title Insurance cover
hidden hazards
not covered by any other type of title certificate such as:
- forgery
- incompetency of grantor
- unknown heirs
- fraud
- impersonation
One-Time Premium is small,
Protection is great.
| Owners’ |
$3.50/$1000
of purchase price |
| Lenders’ |
$35.00 w/
purchase of owners' |
| Lenders’ Only |
$2.50/$1000
of loan amount |
| Rates decrease as the amount covered
increases. |
Transfer and
Recording Costs Transfer taxes and recording costs are set by the State of
Maryland and the County in which your property is located. Following is a guide for
estimating these costs on investment or unimproved property (recording costs will be
slightly less if property is occupied as a principal residence or sold to a Maryland
first-time home buyer as principal residence).
| Talbot County |
2.16% of purchase price |
| Caroline County |
2.00% of
purchase price |
| Dorchester County |
2.25% of
purchase price |
| Queen Anne’s County |
1.66% of purchase price |
| Kent County |
1.66% of purchase price |
A recording fee of $40.00 per document
(less than 9 pages) must be paid to the County Clerk.
We at VENTURE TITLE COMPANY will gladly answer any questions pertaining
to your particular transaction. PLEASE CALL US.
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