The following fees will give you an idea of some of the fees you might see on your settlement statement that you would pay to us at the time of closing. They should only be used as a guide, NOT as final figures. Every loan is different and depending on what your purchase and sales agreement says and what we find in your title the fees can vary. Also, our fees are subject to change due to market changes, supplier increases, tax increases, or other factors beyond our control. Therefore, please only use these as a guide to help you prepare for the closing.
Deed Preparation
$100.00
POA Preparation, if applicable
$75.00
Overnight Payoff
$20.00 each
Discharge Preparation, if applicable
$50.00
Massachusetts
Discharge
$75.00 each
POA
$75.00, if needed
Declaration of Homestead
$35.00
Declaration of Trust
$225.00
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New Hampshire
Discharge
$22.00 each
POA, if needed
$12.39
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State Tax Stamps
Massachusetts
Tax stamps are charged at the time of closing and cost $4.56 per thousand of the purchase price. They are rounded to the nearest dollar and are paid entirely by the seller (for example: on a purchase price of $227,500.00 the total tax stamp due is $1037.40). |
New Hampshire
Tax stamps are charged at the time of closing and cost $15.00 per thousand of the purchase price. They are then rounded to the nearest dollar and split between the buyer and the seller (for example: on a purchase price of $227,500.00 the total tax stamp due is $3412.50 with the buyer and the seller each paying $1706.25 at the time of closing). |
Property Taxes
Any tax bill that is outstanding will be collected at the time of closing. A tax pro-ration is done at the time of closing. There are many variables that will affect the amount of this pro-ration and who it is being paid to including: (a) the date of the closing (b) when the tax bill was paid on the subject property and (c) what dates that tax period covers. For example:
- Closing date: September 15
- Taxes paid on: July 1st
- Total Taxes for the year: $3500
- July tax bill covers April 1 thru September 30
The buyer owes the seller for 15 days of taxes towards the July bill that they paid. The per diem amount on $3500.00 at 365 days a year is $9.59; therefore the buyer would be charged $143.85 at the time of closing and this would be given back to the seller. For more information, contact the tax collector for the town to determine how much the annual taxes are and what dates the tax period covers or for general information refer to the answer to questions #4 of our question and answer page.
Payoff
If is our responsibility to obtain payoff information on your current mortgage loan(s); which is why we ask for the information at least 7 business days prior to closing. When trying to estimate what your payoff should be it is a good idea to add $1000 to $2000 to the principal balance shown on your statement depending upon the amount of your loan. The reason for this addition is that the amount shown on your statement does not include interest and interest will be added to the payoff by the lender. This interest is dependent upon the date of your last payment and date the closing takes place. Interest on mortgages is paid in arrears which means when you make a payment you are actually paying for the prior months interest (i.e. if you make a payment on August 1st, you are paying for interest from July 1st thru July 30th). So, if you are closing on the 15th of the month, the loan will not be funded until the next business day. We will then add an additional 2 business days for mailing purposes from the date of funding. Therefore, as long as there is no weekend during that time, you would be paying for 18 days worth of interest when paying off your loan.
Condominiums
Any condominium fees that are outstanding will be due at the time of closing. Condominium pro-rations will also be done. The amount of the pro-ration is dependent on the date the last condo fee was paid, what dates that condo fee covered, and the date of the closing (for example: with a closing date of September 15th where the seller paid a $200.00 condo fee for September on September 1 the seller would be given back 15 days worth of condo fees at the day of closing from the buyer ($100.05).
**NOTE: ALL FEES QUOTED ON THIS WEBSITE ARE SUBJECT TO CHANGE WITHOUT NOTICE, ESPECIALLY THE RECORDING FEES, AND ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY TO GIVE YOU AN IDEA OF WHAT CLOSING COSTS COULD BE.
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