Closing Rates
Effective August 20, 2020
Closing and Settlement Services - Definitions:
- Presentation: Presentation, as used herein, shall include the receipt and examination of certain title documents to assure the proper execution, acknowledgement and delivery of title, mortgage and other instruments that may be necessary to the completion of the transaction. In addition, presentation shall include providing review of settlement figures and the responsibility for delivery of the title documents to the office of the Clerk and Recorder. Presentation does not include the costs for preparation of the title documents, costs of recording, documentary or transfer fees, special delivery fees, or other miscellaneous chargers due other. These charges shall remain the responsibility of the buyer and/or seller.
- Disbursement: Disbursement, as used herein shall include the collection and disbursement of good funds (as defined by section 38-35-125 C.R.S.) on behalf of the seller, buyer, and/or the lender in accordance with the written and agreed to closing/escrow instructions. Disbursement does not include, among other things, tax certificate chargers, preparation of the closing statement, HUD-1 Settlement Statement, the 1099 IRS form, Truth-in-Lending documents, or any other document preparation. In the event disbursement services are utilized without presentation services, disbursement will include the delivery of the documents to the office of the Clerk and Recorder.
- Closing and Settlement Services: Closing and Settlement Services includes, except as otherwise stated, presentation and disbursement as defined above, file set-up and information gathering, receipt of contract and closing/escrow instructions, telephone/fax communications (inquiries, information, gather and notification), preparation of documentation as needed, written correspondence including assumption packages, payoff statement(s), insurance information, homeowners and/or condominium association status, tax information (excluding the tax certificate fees set forth below), water and sewer information, and other utilities, as required, settlement statement/HUD-1 preparation, preparation of the deed of conveyance, review of pertinent information, perform all calculations and pro-rations, verification of figures and the balancing and printing of settlement statements.
Closing and Settlement Services - Fees (Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, El Paso, Elbert, Jefferson, Larimer, Teller, Weld counties):
- Residential Sales Transaction Closing Fee:
° Residential Re-Sales: includes Realtor and Broker residential but excludes builder subdivision sales, transactions of new homes or sub divided lots, for sale by owner transactions $245.00
° For Sale By Owner Transaction $325.00
° Builder/Developer Transaction $175.00
- Lender Loan Closing Fee for Residential properties: (Includes refinance and loans closed concurrent with sales transactions)
° Conventional, FA, VA and third party (per Closing) $245.00
° Presentation of loan package only $150.00
° Disbursement of loan package only $150.00
° Junior Loan $215.00
° Junior Loan - concurrent with first Mortgage closing $150.00
° Bundled Loan Closing Fee (includes: Loan closing fee, courier, wire, tax certificate, e-recording, e-doc and e-storage fees) $ 350.00
- Commercial Property Transactions:
° Sales Transaction Closing Fee: includes Realtor and Broker Commercial Transactions $350.00
° Refinance Transaction $350.00
° Commercial Loan Closing $350.00
- Vacant Land $215.00
- Miscellaneous Charges/Services
° Wire Transfer Fee - (each) $25.00
° Courier Fee: fee to send documents out to buyer, seller, realtor, lender, payoffs, or other third party as required by the buyer, seller, realtor or lender (per delivery). $25.00
° E-doc Fee $25.00
° Recording Fees $11 for 1st page, $5 each after
° E-Filing Fee $8.00 (per document)
° Miscellaneous Services: (per hour) $50.00
° Short Sale Resolutions $600
° E-Storage Fee $ 15.00
Closing and Settlement Services - Fees (All other counties):
- Residential Sales Transaction Closing Fee:
° Residential Re-Sales: includes Realtor and Broker residential, bud excludes builder subdivision sales, transactions of new homes or sub-divided lots, for sale by owner transactions. $185.00
° For Sale By Owner Transaction $300.00
° Builder/Developer Transaction $150.00
- Lender Loan Closing Fee for Residential Properties: (Includes refinance and loans closed concurrent with sales transactions)
° Conventional, FA, VA and third party (per closing) $185.00
° Presentation of loan package only $125.00
° Disbursement of loan package only $125.00
° Junior Loan $175.00
° Junior Loan - concurrent with first Mortgage closing $100.00
- Commercial Property Transactions:
° Sales Transaction Closing Fee: includes Realtor and Broker Commercial
- Transactions $350.00
° Refinance Transaction $350.00
° Commercial Loan Closing $350.00
- Vacant Land $175.00
- Miscellaneous Charges/Services
° Wire Transfer Fee - (each) $25.00
° Courier Fee: fee to send documents out to buyer, seller, realtor, lender, payoffs, or other third party as required by the buyer, seller, realtor or lender (per deliver). $25.00
° E-doc Fee $25.00
° Recording Fees $11 for 1st page, $5 each after
° E-Filing Fee $8.00 (per document)
° Scrivener's Fee $5.00
° Release Fee $26.00
° Miscellaneous Services: (per hour) $50.00
° Short Sale Resolutions $600.00
° E-Storage Fee $ 15.00
- Minimum Fees: The Fees set forth above are minimum charges. Additional fees may be charged when unusual conditions are encountered.
- Party Responsible for Payment: The Party responsible for the payment of any applicable cost or fee set forth in this rate filing shall be determined by the contractual obligation as set forth in the sales contract or as set forth in the written closing instructions.
- Waiver: The fees and costs set forth above may be waived by the company in a consistent and non-discriminatory manner, consistent with the rules and regulations set forth in Colorado Division of Insurance Regulation 3-5-1, based on the circumstances of the transaction and/or existing at the time of the waiver. Provided, however, that any such waiver shall not exceed the sum of ten dollars ($10.00) and shall not be made for the referral of any past, present or future title business.
- Additional Charges: In addition to the fees and costs set forth above, there may be additional charges incorporated into these fees for extraordinary services which are unique due to the complexity of the individual transaction or requested service for which no filed rate exists. The services shall include but not limited to the following: interstate coordination of multiple transactions, pro-ration of multiple rents/leases, the preparation and coordination of corporate relocation documents, escrow set up, closing re-draw, purge of title certificate for mobile/manufactured homes, additional check disbursements, secretarial/scrivener service for miscellaneous documentation, inspection service, and after hours closings.
- Optional Services - Fees (El Paso, Fremond and Pueblo counties):
° Transaction Coordination Fee $175.00
° O&E Report $15.00