CLOSING FEE A fee charged by the title company to service the transaction and to escrow funds.
|SHORT SALE/ BANK OWNED PROPERTY PURCHASE||$750.00|
TITLE INSURANCE In layman's terms title insurance provides the homeowner and/or lender financial protection for any damages they might incur as a result of some unknown or unforeseen legal problem involving their ownership interest in the land upon which their house sits, including the cost of hiring an attorney to defend such a legal problem.
|OWNERS'||$4.35 / $1000.00 of purchase price|
|LENDER'S||$2.90 / $1000.00 of loan amount|
|REFINANCE LOAN||$1.75 / $1000.00 of loan amount|
GUIDE TO TRANSFER AND RECORDING COSTS Each county has its own fees for what it charges on a Maryland home purchase for state recordation and county transfer taxes at settlement. These fees are known as Transfer and Recordation taxes. These taxes are typically split between buyer and seller.
|CAROLINE COUNTY||2.00% of purchase price|
|DORCHESTER COUNTY||2.25% of purchase price|
|KENT COUNTY||1.66% of purchase price|
|QUEEN ANNE'S COUNTY||1.99% of purchase price|
|TALBOT COUNTY||2.7% of purchase price|