Quote:
Originally Posted by kingofbeer
Reading The Villages sales contract, I see Settlement Service as 5% of purchase price. This seems way out of range. Normally you pay a reasonable fee for closing (less than $500) because the they make money on the title insurance they sell. Contract says you are NOT required to use the listed provider. I have contacted the title company that handled the closing on my last house and am waiting to hear back from them. Am I required to use Properties of the Villages, Inc for closing?
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I assume you are buying a new house? If so, they didn't charge me anything, but that was 6 years ago.
It sounds like you answered your own question. "You are not required to use the listed provider". But, 5 percent sounds outrageous.