Escrow is one of the best ways to avoid fraud, but how much does it cost? An escrow agent or officer can be someone from the closing company, an attorney, or a title company agent. It’s difficult to give a single price since the escrow agent fees vary and depend on the type of company you hire from.
One of the most popular ways people use these accounts is hiring an escrow company like Escorw.com to handle the duties of an agent. The escrow agent fees for this business depend on the transaction amount. Up to $5,000 will cost 3.25% minimum, between $5,000 and $25,000 has a $162.50 + 0.26% fee, and, finally, any amount over $25,000 has a 0.89% fee.
You can also hire an escrow company locally. The escrow agent fees vary, so it’s important to ask how much the company charges before scheduling an appointment. Zillow, a popular home listing site, lists that the average escrow agent fees are calculated $2 for every thousand of the purchase price plus $250. This is paid to the title company or attorney for conducting the closing.
Featured Image: depositphoto/[email protected]