![]() ![]() ![]() Agent and attorney fees – Commission fees for both the buyer and seller’s agent, plus any relevant attorney fees. ![]() Recording fees – These are fees for drafting and recording the land sale in public records.Transfer taxes – There are taxes involved in transferring land from one owner to another (usually a set percentage of the transfer price), with the specific rate depending on what state you’re buying in.Title fees – There are fees for title searches and transfers, as well as for your basic owner’s title insurance policy.Lender fees – If you take out a loan for your land, expect to pay for origination charges, processing fees, credit report fees, and application fees, among other possible related costs.Escrow fees – In addition to paying escrow itself, there are also escrow fees, including fees to hold funds and facilitate the transaction.They may vary depending on how you finance your land purchase and who you use to finalize the deal, but ultimately these are the costs you’ll need to consider as you figure out just how much a piece of land might run you. Types of land closing costs There are a variety of different cost factors included in land closing costs. Here are some quick things to know about paying closing costs on land, including what they cover, who pays them, and whether or not you can negotiate them. For this reason, it’s crucial to factor in closing costs when determining whether a piece of land is in line with what you can afford. These are additional costs paid on top of the purchase price, and for most buyers, end up adding thousands-or even tens of thousands-of dollars onto the initial spend. Closing costs refer to a range of fees used to finalize a real estate transaction. However, there are some other major cost factors to keep in mind too-including closing costs. It does not store any personal data.By Laura Mueller When purchasing land, many buyers look at the listing price alone when determining whether a specific property is in their budget. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. So far as there is any inconsistency between the prices quoted herein and the said Engagement Letter, the terms of the Engagement Letter will prevail and be applicable. Upon retaining Lemke Law Professional Corporation an Engagement Letter will be entered between the client and Lemke Law Professional Corporation that will govern the solicitor-client relationship, which shall include fees, disbursements and taxes payable. An additional $500.00 fee is applicable to pre-construction closings due to a prolonged solicitor-client engagement and the staged nature of the occupancy and final closing. “Non-institutional lender” means any lender that is not an Institutional Lender. “Institutional lender” means the Royal Bank of Canada, the Canadian Imperial Bank of Commerce, the Bank of Nova Scotia, the Toronto-Dominion Bank, or the Bank of Montreal. The Mortgage Legal Fee for a Non-institutional lender is $495.00. Mortgage Legal Fee is quoted upon the assumption that the purchaser or refinancer is obtaining a mortgage through an Institutional Lender. Fees do not include unintended transactional services, such as closing date extensions. Fee quotes are for transactional legal services only and do not include litigation services. Quotes do not include preparation and registration of additional documents, such as a Power of Attorney or a Declaration of Trust. All quotes are for residential resale transactions. Quotes and prices do not include real estate, brokerage, or credit arrangement fees or commissions, or any other fees not explicitly stated herein. Quotes and prices stated herein are estimates only and are subject to change. *Quoted prices are for legal fees, disbursements and taxes associated therewith only. ![]()
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