Hi BP Family
My Loan estimate document for a purchase shows following. I am buying in Roseville California. I have not done this before and tempted to try to shop for these services. What is the risk if I shop for my own services. ?
Title–Document Preparation Fee $100
Title–Lenders Title Policy $732
Title–Notary's Fees $350
Title–Recording Service $18
Title–Settlement or Closing Fee $1,430
BTW....origination fee is 999
@Poonam Hemrajani there is no risk shooing for title. In fact given variance in CA escrow agent fees (and service level) you should. Typically however lender providing estimate and agents selecting tile on purchase. So those fees will be whatever selected provider charges.
@Alan Lacey i asked my loan agent and then she gave me a closing document which she got it and I see the costs are split and I am getting a cash back from my agent so that is helping me to balance my cost
I live in Roseville also. Those numbers are pretty good. Save the headache and just get to the finish line!
What is the risk?
The risk is you choose someone who screws things up. Just make sure you choose someone who is competent.
Having just suffered through a closing with the lowest price title company I can promise you it isn't worth the potential few hundred dollar savings. The turnover is so high and morale is so low that it makes everything much more difficult. Notary fee looks high but that's an estimate and you can avoid it by signing in the office.