Purchasing new construction or Getting a Construction Loan for new construction on your property?
CloSure Title & Settlement has had many years experience with new construction, whether you are purchasing a newly constructed turn-key home or getting a Construction Loan and hiring a contractor (or acting as your own General Contractor).
Draws
CloSure Title & Settlement can help you by providing the title insurance, with updates of the title for each draw, making sure that no liens have been filed on the property by those who have worked on or provided supplies for the construction. We require a request for draw in writing and will need 5 business days in order to update the title and provide a title endorsement to your lender for the release of the draw.
Release of Liens
CloSure Title & Settlement will order a faxed payoff statement for any liens on the property. We will make sure that the payoff funds are delivered per the payoff statement so that the lien release process can begin.
Title Insurance and Settlement Charges involved with Construction Closings
Settlement Fee 350.00
Draws 50.00 per draw
Title Search 120.00 Title Insurance Binder Fee 75.00
Release Processing Fee 45.00 per lien on property
Cashier's Check Fee 10.00 per item
Wire Out Fee 20.00 per item
Overnight Mail Fee 20.00 per item
Title Insurance Premium call for quote
Subcontractor charges:
Deed Preparation 75.00 (prepared by a licensed attorney)
Release Tracking Fee 35.00 (reQuire Release Tracking)
FEEL FREE TO CONTACT OUR OFFICE FOR A QUOTE !