How Much is Your Closing Fee? And Does that Include Shipping and Handling?

“Hi, my name is Pat, and I am an Ebay addict.”

If there were a 12-step recovery program for Ebay addiction, I would be there. I started shopping on Ebay several years ago – back when it really was a virtual garage sale. I have gotten a lot of good deals on merchandise over the years. I learned very quickly, however, that the price of the merchandise was only part of the cost. You see, many people who sell on Ebay have figured out that they can boost their profit by charging “shipping and handling” charges that are more than their actual out-of-pocket cost of getting the merchandise from their garage to mine. I realize that it takes some effort to package an item for shipment and to take the package to the shipper. I also realize that packaging supplies cost money and I don’t fault sellers for wanting to recoup their cost. And yet, these additional charges for shipping and handling end up making the widget, or whatever I just purchased, cost more than the stated price

I’ve noticed that sometimes, pricing for real estate closings can look a lot like an Ebay auction: the stated price looks really good, but by the time you add in all the “extra” charges – copy fees, package printing fees, overnight delivery fees, courier fees, email delivery fees, incoming wire fees, outgoing wire fees, and a host of others – the total cost to the buyer and seller is up to $100.00 more than the stated cost for the closing.

When we were working up the business plan for the TitleSouth Closing Center, we took a different approach to pricing closing services. Instead of stating a certain price – say $500.00 for a typical real estate closing with one mortgage – and then adding on for overnight packages, incoming and outgoing wire transfer charges and other expenses that are ordinary and necessary costs of doing business, we decided that our stated price would include all of these incidental costs.

It is a simple and straightforward business model – one price, no hidden charges. The price we chose is reasonable and competitive based on what closing attorneys and other title insurance companies in the Birmingham area charge for similar services. TitleSouth Closing Center’s fees are not the lowest in the Birmingham area, but they are far from the highest. We believe in being upfront about our fees, charging a fair price and delivering quality service and a good value for the fees we charge. Not only are the Closing Center’s fees competitive for closing services, we also offer agents, buyers and sellers an interactive closing experience through SureClose, our on-line transaction management platform (www.sureclose.com). We also offer to provide buyers and sellers copies of their closing documents on a CD, and work with buyers and sellers whose work schedules or travel arrangements make it difficult for them to close between 8:00 a.m. and 5:00 p.m., Monday through Friday.

In short, we pay the shipping and handling – it’s a lot better deal than you’ll get on Ebay.