Reply to Any tips on saving on closing costs?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You can and should shop for your own title insurance. Call around for a couple of quotes. You may get push-back from the agents involved, but it's your right. (Note: Do not forego title insurance for yourself, however).

Challenge all junk fees, especially any tacked on between receiving the final HUD-1 and the papers actually delivered to the closing table. Any "document processing fee" or "underwriter fee" or "document review fee."

Don't let your agent charge you some additional fee on top of the huge commission they're already receiving. Wise agents just eat that fee themselves if their broker insists on it, so just ask.

You may have to threaten to walk from the closing table, btw. But you can do it.

[/quote]Really?
Can you really walk away at closing because you do not like the document processing fee?[/quote]

I guess it depends what PP means by "walk away" and who is trying to levy the fee. You can't abandon the seller because your agent is being difficult; you'd still owe the seller the earnest money. You could refuse to sign a document that purports to give the agent more money than he or she is entitled to under your agency contract. But most document processing fees and the like come from the mortgage company, not the agent. If PP is talking about refusing to pay the mortgage company a particular fee, you should do that before the day of the closing when you still can fire the mortgage company. If PP is talking about demanding that the agent eat a document processing fee that the mortgage company has imposed, I think you'd be kind of out of luck if the agent said no and you were already at closing. You'd want to do that sort of strong arming before you life the financing contingency.[/quote]

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