Fees And Expenses

In most cases we pay for all the costs of the transaction. However, there are situations where the note seller may be responsible for some costs.

FedEx fees: We will pay for shipping out to Seller and for return of documents. We will also pay for shipping to title company or recorders office. Seller will be responsible for additional shipping.

Wire Transfer fees: We normally mail out Seller’s checks. If the funds are to be wired, the Seller will be responsible for wire fees.

Title Policy fee: We will pay for an endorsement to the original title policy (usually a 104.1 Endorsement), insuring us as the new assignee, however, if there was no title policy and a new title commitment is required, the note Seller will be responsible for this cost since they are representing to us that the title of the asset being transferred is clear.

Deed Fullfillment Tax or Transfer Tax: In some transactions such as land contract purchases, the actual fee title of the property is transferred to us to be held until it is transferred to the note Payor upon payment of the note in full. Some states and counties may charge a property transfer tax or deed fullfillment tax. If this is the case, the note seller would be responsible for this cost. Contact us to determine if this is applicable to your situation.

Special situations: In some cases, where title problems are encountered or there are legal issues with the property or prior lien holders etc., there may be additional legal and/or title fees incurred. These would be the responsibility of the note Seller.