Closing costs for buyers and sellers

As a buyer you have the right to choose your closing company.  You are the consumer and in charge of your transaction. Aside from lender’s costs, a buyer has other expenses for purchase of property.  In Pennsylvania, closing companies are only permitted to charge what is standard in industry.  These costs are not to be marked up. Title insurance premium rates are determined by Pennsylvania Department of Insurance rating bureau.

Buyer’s typical closing costs in Pennsylvania, in addition to any lender fees, may include following items:

  • Lender’s Title Insurance Premium (one time premium based on amount of loan)
  • Title Endorsements (required by lender)
  • Title Commitment (required by lender)
  • Title Search
  • Attorney Fee
  • Settlement Fee
  • Notary Fee
  • Document Preparation Fee
  • Overnight Costs (pass through rate, no fee costs only)
  • Wire Costs (lenders typically wire funding, pass through rate, no fee costs only)
  • Closing Service Letter issued via Title Insurance underwriter (most lenders require, regulated fee $125.00)
  • Tax Certifications
  • Owner’s Title Premium (issues with Lender’s under a simultaneous insurance rate)
  • Recording Costs
  • Transfer Tax (Buyer Portion typically 1% of sales price)
  • Pro rata real estate taxes
  • Realtor fee
  • Pest Inspection
  • Building Inspection
  • Personal Property

Seller’s typical closing costs in a Pennsylvania real estate transaction may include the following:

  • Real estate commission
  • Realtor fee
  • Attorney Fee
  • Settlement Fee
  • Notary Fee
  • Home Warranty
  • Transfer Tax (Seller Portion typically 1% of sales price)
  • Wire Costs (proceeds and/or payoffs)
  • Overnight Costs (proceeds and/or payoffs)
  • Document Preparation Fee (deed, settlement authorization, power of attorney, etc)
  • Pro rata real estate taxes
  • Mortgage Payoff
  • Lien Letters (required for title clearance)
  • Payoff assurance (verification of payoff)
  • Recording Fee
  • Escrow Fee
  • Sellers’ Assist
  • Final utility bills

A closing company is only permitted to charge you the actual cost. We are not permitted to add on or upcharge these fees.  WPS can provide you with a very close estimate on these costs and fees ahead of time.  After all no one likes surprises when it comes to their money.  Call us for an estimate based on your sales price and municipality.

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Talk about pressure, my lender provided me with a list of 1 recommended real estate closing company. I found the courage to speak up for myself and made the decision to select Westmoreland Paralegal Services for my closing company.

Janice Ritsko – Home Buyer

Gail worked with my schedule to set our meetings.  Before my real estate closing, she provided me with my itemize closing fees so I knew what to expect. Oh and by the way, I recommend Gail for your real estate closing.

Michele Fyock

I am a first time homebuyer. I thought I had financing lined up and it fell through. So I took Gail up on her offer to help. Gail worked with estate attorney, mortgage broker and myself to get my deal closed on my schedule.

Glenn Perry – Home Buyer

Gail was very easy to work with on the closing of our property.  She was professional, personable and very informative.  We recommend Westmoreland Paralegal to anyone who is buying or selling a property.

Barb & Travis Smeltzer

If there’s one thing Gail Malloy understands, it’s real estate closings. If there is one thing Gail Malloy does, it is DELIVER. She saved us $1,475.00. With Gail on your team, you know you will have a successful closing.

Craig and Melissa – Carlisle, PA

…just wanted to send a quick “thank you for all your help” in getting these documents filed in Westmoreland County. I just received UPS package with completed, filed documents…Greatly Appreciated

Adele – Title Insurance Services

Thanks for staying late to get that done. You went above and beyond and I really appreciate it. I know Luka and Ted do too. That was very awesome of you!!

Anthony Bompiani – Bompiani Law Group LLC

Thanks, Gail – we appreciate your excellent service, as always!!!

Kim – First American Title Insurance Company

….wanted a quick closing with title insurance BUT without attorney fees. That’s exactly what I received. Fast, friendly service and compatible to my busy schedule. Thank you and see you at the next one!

Devon – Investment Property Buyer