Selling house- am I being charged twice for the same thing??

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CoastalWinds
Posts: 717
Joined: Sat Apr 06, 2019 8:28 pm

Selling house- am I being charged twice for the same thing??

Post by CoastalWinds » Fri May 10, 2019 11:15 am

I am reviewing my prelim settlement statement for a house sale. It seems there are two fees that might be duplicative, but this is my first rodeo so I want to make sure I understand if this is the case before making a stink.

The escrow/title company is charging a “Tracking/Reconveyance/Maintenance Fee” of $190.

My lender is charging a “Reconveyance Fee” of $120.

What are these fees for? Is it typical to see both of these, or is this double-dipping? And are the amounts in-line with typical amounts?

Thank you!

fabdog
Posts: 884
Joined: Wed Jan 16, 2013 1:59 pm
Location: Williamsburg VA

Re: Selling house- am I being charged twice for the same thing??

Post by fabdog » Fri May 10, 2019 11:38 am

Both the title company and your lender are charging you for doing paperwork.

Since they are doing different paperwork they aren't duplicates per se

No idea if these are in line with your local market

Mike

Rolyatroba
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Joined: Mon Apr 22, 2013 1:14 pm

Re: Selling house- am I being charged twice for the same thing??

Post by Rolyatroba » Fri May 10, 2019 11:41 am

I don't think it is double dipping. Both entities have to submit docs to the county recorder (one for the title and one to release the debt). So, I think that is what this is.

Topic Author
CoastalWinds
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Joined: Sat Apr 06, 2019 8:28 pm

Re: Selling house- am I being charged twice for the same thing??

Post by CoastalWinds » Fri May 10, 2019 12:37 pm

Ok, thanks for educating me!

not4me
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Joined: Thu May 25, 2017 3:08 pm

Re: Selling house- am I being charged twice for the same thing??

Post by not4me » Fri May 10, 2019 4:20 pm

OP, sounds like you don't have a lot of experience selling a house...just a quick comment. If there is anything you feel uncomfortable about, ask the realtor/lawyer/paid pro involved. They shouldn't mind explaining any legit expense

GreenGrowTheDollars
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Joined: Fri Dec 18, 2015 11:09 pm

Re: Selling house- am I being charged twice for the same thing??

Post by GreenGrowTheDollars » Fri May 10, 2019 6:55 pm

First, congratulations on reading the documents -- too many people don't.

Second, go back and review your original purchase documents. Ours included prepayment of the release fees at the time we took on the mortgage.

Third, check carefully that all names are correct and that the address is correct. When we paid off our mortgage, the company (a big US bank) sent a mortgage satisfaction to the county in my name and a female-variant of DH's name. They tried to argue that they didn't need to correct it, but I pushed, they issued a revised release, and I got a copy of the recorded release from the county for our records.

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