Question
What is 1101 Settlement fee in GFE ?
I am first time home buyer and I received a GFE from a lender and there is column 1101 Settlement Fees $700 1) what is this fee for ? 2) Can we negotiate this fee ? 3) As a buyer I need to pay this ?
5 months ago - 2 answers
Best Answer
Chosen by Asker
This is the fee you are paying to the Title/Escrow company for doing all the paperwork. Technically, yes, it is negotiable, but since they are providing a service, there is probably little room here. And unless you have agreed with the seller to pay some of the closing costs, you are the one paying.
by Steve D
5 months ago
Asker's Rating: 
Other Answers
Title company's "transaction" fee basically. They are preparing your documents so yes you have to pay for it. This fee is only negotiable if stated in the purchase contract.
by Kris- 5 months ago