Recently, a $700,000 settlement was disclosed concerning an alleged kick back scheme between a prominent Farmington law firm, a realtor and a mortgage company. As a consumer, the take away message for you, is that your closing is a commodity like so many other things, and it behooves you to pay attention to what you are being charged and to compare fees and costs of various attorneys. My particular office charges a flat fee of $600 to buy a home, $500 to refinance, and $450 to handle a sale. In most instances, I am also issuing a title insurance policy which is required by virtually all mortgage banking institutions. I receive a commission on that premium as do all attorneys. Any additional charges would be clearly explained to you by me personally at the time they are incurred. I am available by phone to answer any questions about costs you may incur in your next real estate transaction. I would love to speak with you.
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