REAL ESTATE SETTLEMENTS IN MONTGOMERY COUNTY, MARYLAND

You've found a wonderful home and now you are ready to move in. How do you get a deed and what will it cost?? Maryland permits title companies to conduct real estate settlements. These are companies owned by lawyers specializing in real estate law. They perform certain functions to make sure you get good title to your new purchase. Legal fees in Montgomery County are approximately $500.00 which includes the title examination.

Actual closing costs in Montgomery will include state and county transfer fees, title insurance, lender fees, termite inspection, real estate taxes, hazard insurance, and various fees which, combined, will cost the average buyer approximately 5% of the purchase price. Our agents will explain all of these fees and taxes to you to help you plan for home ownership in Montgomery County.

Title Search and Title Examination

There is a Deed to every piece of real estate. The Deed is recorded among the land records of the County Government Land Records office. The title company will take the necessary steps to have the new Deed in your name recorded in these land records.

But, before they can record a new Deed in your name, certain steps have to be taken to make sure the deed is free of liens and encumbrances. The title attorney will have the current Deed searched and make a report of all records for that particular piece of real estate.

The title attorney will then examine the title report to make sure that it is free and clear and take steps to have any liens and encumbrances paid prior to settlement.

The attorney will obtain the services of a local surveyor to determine the boundary lines of the lot you are purchasing and any improvements (homes) located on the lot. You'll receive a certified survey at settlement. It will be helpful if you decide to construct any fencing. Fee, approximately $150.00

The title attorney along with your personal attorney will conduct settlement, collect monies, prepare documents, insure the title for you and your mortgage company, pay off any liens, review the documents with you to make sure you understand exactly what is transpiring, and finally, record your new Deed and Deed of Trust (mortgage) if you have one.

Congratulations ! ! ! You are a home owner. And, we'll be there with you every step of the way.