Real estate closings in Virginia
We are the largest independently owned title company serving the DC metro area.
The settlement fee is $875 in Alexandria, Arlington and Fairfax counties. In all other counties, the fee is $1,275.
The following services are included:
- Title abstract
- Courier costs
- Tax certificate
- Admin fees
- Closing fee
- Notary fees
- Title insurance binder
- Recording service fee (if applicable)
For bank-owned / foreclosure, new construction, short sale and commercial properties, settlement fees may vary. Use Quick Quote for a fast, anonymous and accurate estimate of closing costs.
Please note: The lump sum does not include the following services, as these are additional services not required for all transactions.
1. Location survey*^
* Only applicable for single family homes
^ Survey prices may vary with location
A location survey may be required by your lender.
Cost is $360 in Virginia.†
2. Power of Attorney preparation
Cost is $125 in Virginia.
3. Simultaneous 2nd Trust settlement fee
An additional fee of $300 applies if you obtain a second mortgage (i.e., home equity line of credit) simultaneously with your transaction.
† Prices applicable to Arlington County, VA; Fairfax County, VA and City of Alexandria, VA. All other jurisdictions, please use our Quick Quote.
Settlement fees are fixed, meaning they will not change regardless of the purchase price of your home.
Settlement fees are not the only fees associated with closing costs.
Consumers must also pay transfer & recordation taxes (buyer & seller, respectively) and a title insurance policy premium. These costs vary depending on the purchase price of your home.
By law, it is the buyer's right to choose what title company handles their closing. A little shopping can save a homebuyer thousands of dollars.
We encourage you to grab a Quick Quote today for an accurate and anonymous estimate of how much money you will need to bring to the closing table.
Updated 10-30-2013 | Information is reliable but not guaranteed.
Recordation tax (a.k.a. transfer tax) is calculated by purchase price
- Deed Tax = $3.33 per $1000 of Purchase Price
- Trust Tax = $3.33 per $1000 of loan amount
Recording fees (Deeds, Deeds of Trust, etc.)
- $33.00 to record a deed and $66.00 to record a mortgage, regardless of the number of pages in the documents. This generally results in a total recording charge of approximately $99 purchases.
Taxes are paid semi-annually, due dates vary by county. A few counties are outlined below:
- First Half due 7/28
- Second Half due 12/5
- First Half due 6/5
- Second Half due 10/5
City of Alexandria
- First Half due 6/15
- Second Half due 11/15
- First Half due 7/28
- Second Half due 12/5
Updated 12/31/2012 | Information is reliable but not guaranteed.
An owner's policy protects against a loss that may occur from a fault in your ownership or interest you have in the property. A title policy will protect the equity in your new home.
Policy rates do not include the $150 simultaneous issue fee.
(minimum premium $228)
Amount of Insurance Cost Factor Plus On Amount Over Up to $250k $3.90/$1k -- -- $250,001 to $500,000 $975.00 $3.70/$1k $250k $500,001 to $1 million $1,900.00 $3.40/$1k $500k $1,000,001 to $5 million $3,600.00 $2.25/$1k $1 million $5 million+ $12,600.00 $2.10/$1k $5 million
(minimum premium $274)
Amount of Insurance Cost Factor Plus On Amount Over Up to $250k $4.68/$1k -- -- $250,001 to $500,000 $1,170.00 $4.44/$1k $250k $500,001 to $1 million $2,280.00 $4.08/$1k $500k $1,000,001 to $5 million $4,320.00 $2.70/$1k $1 million $5 million+ $15,120.00 $2.52/$1k $5 million
A lender's policy protects the mortgage holder (the institution that owns the mortgage). If there is a fault in title that results in a loss, the mortgage holder will be paid back.
(minimum premium $168)
Amount of Insurance Cost Factor Plus On Amount Over Up to $250k $2.90/$1k -- -- $250,001 to $500,000 $726.00 $2.70/$1k $250k $500,001 to $1 million $1,400.00 $2.40/$1k $500k $1,000,001 to $5 million $2,600.00 $1.25/$1k $1 million $5 million+ $7,600.00 $1.10/$1k $5 million
Note: When calculating the cost of a policy, please keep in mind we use a tiered rate. So if the purchase price is $600k and a standard owner's title policy is purchased, the cost is calculated by multiplying:
250 x $3.90 = $975
250 x $3.70 = $925
100 x $3.40 = $340
Total = $2,240
+ (Simultaneous Rate) $150
Grand Total = $2,390
Simultaneous issue transaction
When an owner's policy and a loan policy are issued simultaneously, the rate applicable for the owner's policy shall be the regular owner's rate. In all cases the owner's policy shall be issued for the sale price of the property or, in the even there is no sale, the value of the premises.
An additional $150 will be added to the premium whenever a simultaneous issue occurs. These rates are based on the First American Title Insurance Company "Eagle Policy." Quotes for other title insurance products are available upon request.
Title insurance re-issue rate policy
To qualify for a reissue rate, the borrower must provide the (seller's) current owner's title policy, which must be less than 10 years old. The reissue rate is based on the face amount (coverage) of the (seller's) current policy.
However, if the buyer qualifies for the REAL Credit™ program, then we can only honor EITHER the re-issue rate or the REAL Credit™ – but not both.View refinance rates