ESCROW CLOSING SERVICES

Escrow closing services provided by Evergreen Land Title Co. involve property located in Lane County or elsewhere. We have experienced personnel to handle a wide range of transactions such as residential or commercial sales, personal property, refinances, sale by owners, and IRC Section 1031 exchanges. For rendering these services, the rate fees are based on a published schedule, which are extremely competitive. The fees vary according to the size of the transaction.

An escrow officer acts as a neutral third party between the buyer and seller of the property and is limited in its agency powers to the specific written escrow instructions received.

The duties of the agent may include the following: order title orders; obtaining information to provide clear title to property; act as a depository for funds and documents for the given closing to complete the closing.

WHAT ARE THE FEES FOR CLOSING AND WHO PAYS THEM?

The escrow fee is generally divided between the buyer and seller in the transaction, although the parties can agree to other arrangements and instruct the escrow agent to the terms of the agreement. The escrow fee is based upon the sale price of the property or the amount of a new loan. Discounted fees are provided for approved builders.

1031 TAX DEFERRED EXCHANGE

Evergreen Land Title Co. has the personnel to handle the closing relating to an IRC Section 1031 exchange. Evergreen Land Title Co. handles 1031 exchanges with the help of Asset Preservation, Inc. A Stewart Title Associated company

Please contact our escrow department for clarification on the fees for the given transaction.

WHAT CAN I EXPECT TO PAY?

Buying or selling real estate can sometimes be confusing. The following information is designed to help you better understand what costs apply to you.

Seller Cost

• Escrow fee - ½ of fee based on Escrow Company's fee schedule.
  
• Recording fee - to clear title.
  
• Owner's Title Insurance Premium - Insures new owner.
  
• Real estate commissions - Based on agreement with broker
  
• Tax pro rate - If the seller has not paid the taxes when due.
  
• Payoffs - All loans, taxes, assessments and encumbrances.
  
• Overnight delivery fees - For payoff check / out of town.
  
• Government service fee - Lien search paid to the city.
  

Buyer Costs

• Escrow fee - ½ of fee based on Escrow Company's fee schedule.
  
• Recording fee - To show interest and / or obligations in title.
  
• Mortgagee's title insurance Premium - Insures new lender
  
• Fire insurance premium - Mandatory when any lender is involved.
  
• Tax pro rate - If the sellers have paid the taxes when due.
  
• Overnight delivery fees - Returning loan documents / out of town.
  
• Wire fee - If incoming money is wired.
  
• Lender fees - All fees charged by the new lender.
  

Note: the above information is based on standard Oregon business practice.
Other charges and fees are sometimes negotiated otherwise.

Exceptions To The Above

• VA LOANS - Seller must pay buyers Escrow fee and overnight delivery fees and certain lender fees.
• FHA LOANS - Seller must pay buyers overnight delivery fees and certain lender fees.