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SETTLEMENT COSTS (DC CLOSINGS ONLY)

Estimated Costs

IMPORTANT: Information provided here is to give buyers and sellers an idea of closings costs they could expect as part of a settlement. In no way is it meant to suggest that all fees will be charged as part of the settlement. Another title company has reported these as Avenue's costs, which is completely untrue and inaccurate. We are always happy to provide a customized quote for your transaction with no obligation. Also, we will match or beat any other legitimate quote by another reputable, licensed title company, when their quote and/or doing so does not violate state or federal law.

You can read the article What Will Your House Really Cost?, from the Washington Post newspaper to learn more about the costs involved. Clients may be entitled to certain discounts on their next settlement. Items marked with a red $ may qualify for a discount. A Settlement Sheet is divided into several categories as follows:

  • Lender Items to Borrower may include:
    • "Points" 1 point =1% of loan amount
    • Appraisal/Application Fees
    • Credit Report Fees
    • Document Preparation Fees
    • Underwriting Fees
    • Flood Certification Fees
    • Tax Service Fees
    • Processing Fees
    • Interest Rate Lock-In Fee

  • Lender Prepaids:
    • Real Estate Tax Escrows
    • Hazard Insurance Escrows
    • Interim Interest

  • Title Items:
    Buyer's Fees
    Settlement Fee $300
    Title Search/Abstract $265 (at cost)
    Title Insurance Binder $100
    Notary fee/Doc Prep $50
    Delivery/Fax/Copy/Admin Fee $65
    Courier Recording Service $25
    Title Insurance
    (Owner's and Lender's Policy)
    $6.84 per 1000 of sale price
    + $100 for lender's policy

    Seller's Fees
    Settlement Fee $300
    Doc Prep/Notary $50
    Prepare and Process Payoff $100 per loan
    Deliver/Fax/Copy/Admin Fee $18.75

    • Title Examination (Avenue does not charge extra)
    • Payoffs Release Tracking     $35 each
    • Title Clearance (if necessary)     $110-210/hour

  • District of Columbia Fees
      Borrower Seller
    DC Transfer Tax (based on purchase price < $400,000)*   1.1 %
    DC Transfer Tax (based on purchase price >= $400,000)*   1.45 %
    DC Recordation Tax (based on purchase price < $400,000)* 1.1 %  
    DC Recordation Tax (based on purchase price >= $400,000)* 1.45 %  
    DC Recording Fees
    (1st 2 pages=$26.50, $7/page thereafter)
    Deed (approx. - calculated by number or pages)
    $33.50  
    Deed of Trust (approx. - calculated by number or pages)
    $208.50  
    Releases (approx. - calculated by number or pages)
      $40.50
    *Variances may occur after application of first time homebuyer,
    low-income homebuyer, and other tax abatements

  • Miscellaneous fees if applicable:
      Borrower Seller
    Survey $250 N/A
    Termite Inspection $65  
    Additional Wire/Courier/Overnight $35 $35
    E-Storage Fee $45  
  • District of Columbia First-Time and Lower Income Homebuyer Programs:
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