RVA Real Estate Settlements, LLC is a Virginia-licensed title insurance agency and provider of settlement/closing services to individuals and businesses.
Our flat fee for a residential real estate purchase settlement is $475. The fee does not change based upon the purchase price. The fee will be higher for 1) closings that take place at locations other than our office at 5004 Monument Avenue, 2) the closing of a construction loan, 3) closings that involve more than one loan, and 4) closings where multiple properties (tax parcels) are involved, or where the property lies in more than one jurisdiction.
Our flat base fee for a residential real estate cash purchase or refinance settlement is $400.
For closings for commercial property (including multi-family residential), purchasers should be represented by an attorney. RVA Real Estate Settlements will work with your attorney to provide title services and title insurance; your attorney will charge a settlement fee, but no settlement fee will be due to RVA RES.
There are two types of title insurance coverage – owners’ coverage and lender’s coverage. Within the owners’ coverage our insurer, Old Republic National Title Insurance Company, offers two type policies: Homeowners’ Policy and a Basic Policy.
We recommend that you purchase the Homeowners’ Policy coverage. If you are getting a loan to purchase the property, your lender will require that you purchase for the lender’s protection a lender’s insurance policy.
- The premium for owners’ title insurance coverage is based upon the purchase price (or actual value, if the property is a gift, or if purchase price is otherwise not reflective of the actual value).
- The premium for lender’s title insurance coverage is based upon the loan amount.
The rate for is higher for owners’ coverage versus lender’s coverage. This is because the lender’s coverage is extinguished when the loan is paid; owners’ coverage remains in place even after you sell the property.
Get a complete quote of our costs and fees in any of the following ways:
- Click on the green button on the bottom right of this webpage
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- Contact us via the form to the right