What Are Closing Costs?

Closing costs are fees that are separate from the selling price of a property. They need to be paid at the time of closing and can involve escrow fees, title insurance premiums, tax prorations, loan fees, deed recording fees, real estate commission and more.

The buyer usually pays for:

  • Lender’s title policy premiums
  • 50% of escrow fee
  • Recording charges for all documents in buyer’s name
  • Tax proration (from date of acquisition)
  • Homeowners’ Association fees
  • All new loan charges (except those required by the lender for seller to pay or otherwise negotiated between buyer and seller)
  • Fire insurance premium for the first year

The seller usually pays:

  • Owner’s title insurance premiums
  • 50% of escrow fee
  • Real estate commission
  • Document recording and release fee for deed of reconveyance
  • Any loan fees required by buyer’s lender
  • Payoff of all loans in seller’s name or against the property
  • Interest accrued by lender being paid off, statement fees, reconveyance/release tracking fees and any prepayment penalties
  • Any judgments, tax liens, etc. against the seller — including the cost of recording the release document
  • Any and all delinquent taxes

Take a look at the Buyer/Seller Guide we’ve put together for more information on what happens during the purchase or sale of a property.

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Where Home & Heart Meet

Buying a home is one of the largest investments a customer makes in their lifetime. You’re who they’ll count on to help them make the best choices in protecting that investment.

With years of proven industry experience, Alliance Title’s resources help you guide your customers through the benefits of owner’s title insurance with confidence.

Visit blog.alliancetitle.com to access the following ALTA HOP resources and more:

Additional information and resources are available at Homeclosing101.org

#alliancetitle #ALTA #homebuyers #hop #realestate #title #escrow

Employee Spotlight – Dennise Davidson

Dennise Davidson is an Escrow Officer with Alliance’s Nampa branch serving the Treasure Valley. With 13 years of experience with the company and over 20 years in the industry, Dennise prides herself on making her clients look good to their customers.

Of the Alliance Core Values, “Integrity” is what Dennise considers to be the heart of the company. Dennise explains “Our clients can rest assured that we will be honest in our dealings, always striving to provide the highest level of customer care.  We work as a team to ensure our clients have the best closing experience possible”.

When asked what Dennise likes most about her position, she shared that it is the personal relationships with clients that she enjoys the most.  She feels fortunate to have developed so many friendships with professionals in the industry while also having the rewarding opportunity to be part of making the dream of homeownership come true.

When Dennise is not busy working, you can find her taking advantage of the many things our great state of Idaho has to offer.  In particular, she likes camping, music, nature, reading and exploring.

For our spotlights, we always like to ask: Who do you admire the most and why?  Dennise replied with a passionate response about her mother. “My mother, Rosemary, for her courage in the face of adversity, for her strength of character and perseverance through difficult circumstances and for the unconditional love, care and thoughtfulness she extends to everyone she meets. I admire her sense of adventure and the wonderful way she always brings out the best in people.”

Dennise’s favorite quote is “Bloom Where You’re Planted”.  Not surprisingly this is also one of her mother’s favorite sayings and something that she finds to be a simple reminder to be content and make the most of what you have. She believes this is the secret to happiness.

Now that you know Dennise a bit better, write her in on your next transaction!

Dennise Davidson – Escrow Officer at Alliance Nampa Branch
1005 W Sanetta St.
Nampa, ID 83651

#alliancetitle #employeespotlight #spotlight #title #escrow

Mistakes To Avoid Before Selling

It’s definitely smart if you or your clients want to save money in repairs before selling a house by taking a DIY approach. What if the DIY project isn’t done right and ends up costing way more in time and stress for a professional to fix your mistake? Here’s an article from Realtor.com on some of the worst mistakes that can be made before selling a house:


#alliance #homeselling #realestate #selling #homeimprovement #title #escrow

Real Estate & Friendship Can Be Tricky

Having friends that want to either buy your or sell you a house may appear to be easy — until things get complicated. Kim Kardashian sold her $17.8 million house to her friend Marina Acton in November, but it’s back on the market. Could Acton have felt obligated to buy the home because she’s Kim’s friend and regretted doing so after the fact? Who knows, but take a look at this article from Realtor.com on how friendship can make buying or selling with friends complicated:


#alliancetitle #realestate #homebuyers #homesellers #title #escrow

Communication is Key

Matching the market, details in real estate transactions can move at a rapid pace. Setting expectations, proactively communicating and simplifying information builds trust and keeps your customers always in the know.

Here are some tips for better communication with buyers and sellers:

Being a good listener might be the most important part of communicating. Repeating what clients say and asking questions shows you’re interested and paying attention to their needs.

Be Available
Identify and use your customer’s preferred method of contact such as text, email or phone.

Explaining the process in more basic, understandable terms can save buyers and sellers time and stress.

Share your stories and experiences to build rapport and trust.

Use Resources
Alliance provides guides, checklists and more to help make the process easier.

When you’re ready to talk title insurance with your clients, you can count on the trusted professionals at Alliance Title.

#alliancetitle #communication #customerservice #communicate #realestate #title #escrow

Employee Spotlight – Bret Cherry

Bret Cherry is an Escrow Officer at Alliance’s CW Moore office in Boise, Idaho and has been with the company since 2016. Interacting with great clients, being part of an experienced team for each transaction and seeing the happiness from buyers and sellers after a successful closing are his favorite parts of being an Escrow Officer.

Of the Alliance Core Values, “Integrity” is Bret’s favorite. He explains, “having worked in other markets, you quickly understand what makes a company work. Integrity drives the other Core Values of Teamwork, Honesty, Trust, Respect and Service. It reminds me of my grandfather in Switzerland, where a handshake was your word — your integrity.”

“It takes all kinds of people to make a world,” is his favorite quote. He says that he grew up with his mother always reminding her children of that reality. It’s always been Bret’s daily mantra and he feels that it becomes more and more relevant each day.

Out of everyone, he admires his nephew, Cortlan. “We lost him to cancer when he was 7. His perspective on his surroundings, even during the most painful hours, was elevated. He exited this life without ever complaining.”

When not working, Bret enjoys exploring new things to do in the area and taking advantage of the outdoors. “Coming from San Francisco, aside from the beach, you typically drive a great distance with extreme traffic to reach hiking, biking and skiing areas.”

Bret looks forward to helping make your next transaction a success!

Bret Cherry – Escrow Officer at Alliance Title CW Moore
250 S 5th St., Ste. 100
Boise, ID 83702

#alliancetitle #employeespotlight #spotlight #title #escrow

Guide Your Clients

Do you have questions or need resources to help explain the title and escrow process? Do you wish there was an easy way to prepare your clients with information? Ask us about the materials we have available to help guide you and your clients to a successful transaction.

Client Resource Guide:  You are the trusted advisor to your clients and with that in mind, this brief guide was made for you. Browse to be up-to-speed on title, escrow, tax prorations and more.

Buyer-Seller Guide: Most of your clients don’t buy and sell homes often. Share this handy booklet on our website with your clients to help them understand the closing process.

Visit www.alliancetitle.com or request a copy of these great resources from your local Alliance Title office.

#alliancetitle #guides #buying #selling #title #escrow #resources

Meet Our Boise, Idaho Branch

Located in Boise, Idaho, the Alliance Title CW Moore team is a unique group of individuals with equally unique roles. If you were to add up each team member’s industry experience, it would total more than 125 years.

They stand out from the competition because they put that experience to work as a solution-based group that specializes in Commercial and Residential title and escrow services for commercial and residential developments, construction projects, property sales and refinance transactions.

On top of the business side of what they do, they devote a lot of energy to improving and giving back to the community. The team participates in the Alliance Title ‘Closing The Hunger Gap’ food drive campaign that collects food and funds to benefit the Idaho Foodbank.

Additionally, the Alliance CW Moore team supports the Boise Valley Economic Partnership (BVEP), is an active Boise Chamber member, is a part of the Women’s Council of Realtors, Commercial Real Estate Women and contributes to many other non-profit organizations such as the Boys & Girls Club, Make-A-Wish Foundation and MS Walk.

When not working or giving back, the team still manages to stay busy with a variety of interests. From being on the crew for T-6 racer airplanes at the Reno National Air Races, scuba diving and gourmet mushroom hunting to camping, traveling and raising five kids, each teammate knows how to keep things interesting and fun.

Whether you’re buying or selling a commercial or residential property in Ada, Boise, Elmore or Valley counties, the professionals at Alliance CW Moore are excited to help make your next transaction a success!

Alliance Title – CW Moore
250 S 5th St., Ste. 100
Boise, ID 83702

#alliancetitle #branchspotlight #commercialservices #realesate #community #title #escrow #spotlight

7 Reasons Why Every Homebuyer Needs Owner’s Title Insurance

Buying a home is like a rollercoaster; emotional, exciting and intimidating. For a confidence boost, make sure you get an owner’s title insurance policy — here’s why:

Protects your largest investment. A home is probably the single largest investment you will make in your life. You insure everything else that’s valuable to you – your life, car, health, pets, etc., so why not your largest investment? For a one-time fee, owner’s title insurance protects your property rights for as long as you own your home.

Reduces your risk. If you’re buying a home, there are many hidden issues that may pop up only after you purchase your home. Getting an owner’s title insurance policy is the best way to protect yourself from unforeseen title discrepancies. Don’t think it will happen to you? Think again.

Title claims can include:

  • outstanding mortgages and judgements, or a lien against the property because the seller has not paid his taxes
  • pending legal action against the property that could affect you
  • an unknown heir of a previous owner who is claiming ownership of the property

You can’t beat the value. Owner’s title insurance is a one-time fee that’s very low relative to the value it provides. It typically costs around 0.5% of the home’s purchase price.

Covers your heirs. As long as you or your heirs own your home, owner’s title insurance protects your property rights.

Nothing compares. Homeowners insurance and warranties protect only the structure and belongings of your home. Getting owner’s title insurance ensures your property rights are protected.

8 in 10 homebuyers agree. Each year, more than 80% of America’s homebuyers choose to get owner’s title insurance.

Peace of mind. If you’re buying a home, owner’s title insurance lets you rest assured, knowing that you’re protected from inheriting possible debts or legal problems, once you’ve closed on your new home.

To learn more about owner’s title insurance, visit our ALTA HOP Resources on our blog or contact your local Alliance Title representative.

All publications of the American Land Title Association are copyrighted and are reference herein by specific permission from the American Land Title Association (ALTA). http://www.alta.org/


#alliancetitle #alta #homebuyeroutreachprogram #hop #buyers #title #escrow