Are Escrow Fees Always Necessary?
Escrow Fees / Title Fees are not always required! If the seller has institutional loans to pay off or if a buyer is obtaining institutional financing, then those lenders will require full escrow and title insurance.
Under the following circumstances, escrow and title fees are not required:
- Private party selling direct to buyer, no loans to payoff, and buyer paying all cash or seller carrying back a loan.
- Family transfers between parents and children, or husband and wife, or friends, into trust.
- Correction of deeds, vestings, legals.
- Transactions that escrow or title companies can't do, won't do, or don't know how to do.
- Removing deceased parties from title.
- Deeds in lieu of foreclosure.
- All inclusive trust deeds.
- Reconveyance (removing loans when paid).