If you choose to have First Montana Land Title Company of Helena close your loan or sale, below are our fees. We have an excellent escrow staff that will make the process quick and painless! For the fees for your title insurance policy, see the Premium Calculator.
To all of our Valued Customers
With the implementation of the new regulations enacted by the Consumer Financial Protection Bureau in October of 2015, we have been forced to increase our staff and make computer and software changes to ensure that we are all in compliance with the new TRID rules and regulatory changes. Unfortunately, these changes have significantly increased our costs for providing our Customers with quality closing services and title insurance, forcing us to increase our closing fees. Title Insurance rates, at this time, will remain the same.
The rate schedule below will become effective March 1, 2016. We will honor any Closing Fees quoted on Loan Estimates prior to February 1st on transactions subject to the TRID rule so that you stay in compliance with the regulations. Should you have questions with our rates please don’t hesitate to call us.
Note: Closing fees are typically split between Buyer and Seller. Closing fees on a Residential Sale Transaction are figured on the Purchase Price.
|Up to $150,000.00||$450.00|
|$150,001.00 to $300,000.00||$600.00|
|$300,001.00 to $750,000.00||$750.00|
|Over $750,000.00||See Commercial Rate|
Manufactured Home De-Title Fee: (Required for ALTA 7 or 7.1 Endorsement): $175.00 * Note: This fee is not applicable if the manufactured home has previously been de-titled.
Refinance Fee: $350.00
Commercial Transactions: $250.00 plus $1.00 per thousand of sale price. (Minimum $500.00)
Trustee Fee: $25 (If we provide the closing, this is included in our closing services at no additional charge.)
Recording Fee: $7 per page if in compliance, if the document is not in compliance, it is an additional $10 charge. For details see the Montana Code Annotated.
Courier Fee: Included in our closing services at no additional charge.
Doc Retrieval Fee for Email Docs: Included in our closing services at no additional charge.
As a seller, once your closing is scheduled you may be contacted by your closing agent to get information for loan payoffs, scheduling water meter readings, and other information they may need. The signing of documents will be scheduled when all parties are ready to close. At the closing, the closing agent will answer any questions you may have. After documents are signed, the money from the buyer and/or lender will be collected by the closing agent. The signed documents from the closing will be recorded with the clerk and recorders office. If the money is received late in the day, the recording may not happen until the next morning. Once the documents are recorded, the funds will be disbursed to payoff loans, taxes, and other costs. Your proceeds can either be picked up, mailed, wired, or deposited in your bank by our delivery service.
As a buyer, once your closing is scheduled you may be contacted by your closing agent for information regarding the way you want title to be held, your mailing address for tax reasons, and lender information. The signing of documents will be scheduled when all parties are ready to close. At the closing, the closing agent will answer any questions you may have. After documents are signed, funds will be collected from you in the form of a cashiers check or wired funds. Once the funds are received by our bank, the documents will be recorded with the clerk and recorders office and the property is yours!
If you are refinancing your property, the lender takes care of a large part of the process. They set up the closing when their documents and funds will be ready. At the closing, the closing agent will answer any questions you may have. After the documents are signed, there is a rescission period of three business days on your primary residence, during which you may cancel the transaction. Once the period is ended and the lender has funded the loan, the documents will be sent to the clerk and recorders office for recording. The closing agent will disburse the funds and the transaction will be complete.