Typical Closing Costs?

[toddc2]

Just got quoted $650 to close on a MOC week with an optional $175 title insurance. This seems a little high so I thought I would ask opinions.

I am trying to clarify if the quoted rates include the transfer fees and ROFR. What do these fees typically run?

 

[TheTimeTraveler]

Just got quoted $650 to close on a MOC week with an optional $175 title insurance. This seems a little high so I thought I would ask opinions.

I am trying to clarify if the quoted rates include the transfer fees and ROFR. What do these fees typically run?

Keep in mind that the Marriott Transfer Fee (gouge fee) is $120 alone, so if you back that out, and back out the title insurance, you're at $355 if my math is correct.

I don't think the $355 is too bad in my opinion. Others will charge more, and some will charge less. It all depends on what company handles the transfer.




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[toddc2]

Thanks, just to clarify the quoted closing costs were $650+$175 title insurance for a total of $825. It wasn't clear if the $650 covered transfer.

So $650+$175+$120+whatever else (ROFR?) seems steep. I'll let you know what is actulally covered when I hear back from the broker.

 

[CashEddie]

Thanks, just to clarify the quoted closing costs were $650+$175 title insurance for a total of $825. It wasn't clear if the $650 covered transfer.

So $650+$175+$120+whatever else (ROFR?) seems steep. I'll let you know what is actulally covered when I hear back from the broker.

Actually, the transfer fee from Marriott is $25. The ROFR waiver is $95, thus the $120 fee for transfer. The $120 should be including in the qouted closing costs. The balance of the fees should including prep of new deed, title search, recording of new deed, etc.

 

[TheTimeTraveler]

Thanks, just to clarify the quoted closing costs were $650+$175 title insurance for a total of $825. It wasn't clear if the $650 covered transfer.

So $650+$175+$120+whatever else (ROFR?) seems steep. I'll let you know what is actulally covered when I hear back from the broker.

Now that you've spelled it out, I agree that these closing costs are very steep.

Someone is trying to make some profit on the closing costs!




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[Robert D]

I've used Susie Bell at Timeshare Closings for Less to close a couple Marriott deals for me and the cost was $250 plus filing and transfer fees. The total should be under $400. This includes full escrow services but no title policy which is really not needed unless it's a pretty expensive deal. The $650 is very high.

 

[tschwa2]

Here's a thread about escrow that can add additional expenses to Hawaiian closings. Not sure if it accounts for it all of the additional expense or not.