Philly - Title, Recording and Transfer Charges - Is this correct?

6 Replies | Philadelphia, Pennsylvania

Hi, for a house with a sales price of $99K I got the following charges. This seems very high but just wanted to get some feedback since this is the first time doing a purchase in Philly. Your help and feedback is greatly appreciated:

Title ChargesBuyer paysSeller pays
Closing Fee (If Applicable)$200.00
Owner's Title Insurance$1,025.00
Title- Courier Fee$20.00
Title- Notary Fee$15.00
Title-Incoming Wire Fee$7.50
Title- Tax Search$55.00
Recording & TransferBuyer paysSeller pays
Recording (estimate - may vary by county/township)$252.00
Transfer Tax$499.50$499.50
Local Transfer Tax$1,637.36$1,637.36
Grand Total $3,711.36$2,136.86

@Vinod Badami sounds about right.

Philly transfer tax is 3.278% + 1% commonwealth (state). The 4.278% is usually split 50/50% between the buyer and seller (though if wholesaled the split can be different).

Other fees look reasonable.

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