How Much Does a Deed Transfer Cost?
A deed transfer is the process of transferring the ownership of a property from the legal owner to another party. This process is not limited to an individual as the term can also apply to transferring ownership of one business to another owner. There are different types of deed transfers and based on the terms of each, the price can be different. One type of deed transfer is a quitclaim deed, which is considered to be the most common type of deed transfer. Another type of deed transfer is the warranty deed, which includes some sort of responsibility for repairing breakdowns once the deed of the property has been transferred. The price of a deed transfer will vary depending upon the state, the terms, type of deed and if a professional is involved.
How much is it?
- On average, filing a deed yourself can cost anywhere from $10 to $150, while hiring a professional service and/or lawyer can cost upwards of $500. The state is going to play a rather big role on paperwork and filing fees. Most transfer processes are going to be between the $50 and $250 price tag range.
- For example, in the town of Barnstable, Massachusetts, a deed transfer package has a fee of $125 if you file yourself.
- For example, the site LegalZoom provides a real estate deed transfer priced from $249 to $289 depending on the package chosen.
What are the extra costs?
- Filing for a deed transfer is the first step of the process. The filing fee is considered an additional cost which can be priced anywhere from $32 to $60 depending on the state.
- While deed transfers can be filed on your own, a real estate attorney is highly recommended. See: “How much do lawyers cost?“
What is going to be included?
- Once the deed transfer is filed with the county, it can take up to a few business days to process the request. Upon approval, a new deed will be sent out to the transferee. Each and every state will vary with their laws as well as the process on what needs to be done in order to successfully transfer it.
How can I save money?
- Filing a deed transfer can be a tricky process. While it can done on your own, it does not hurt to talk with the local court to learn more about the process.
- There is no harm in asking attorneys for the best way to go before acquiring a deed and getting their service. If hiring a professional, ask for a referral or check with your local state bar. If you’re going to use an attorney, services like LegalMatch can help you find one in your area.
- Consider transferring a deed yourself using online lawyer services such as LegalZoom.com. Not only are these services going to get the job done right, they are going to be a lot cheaper than the lawyers that you meet with in your local area.