Will the Seller be charged fees by both the Settlement Agent and legal counsel if they seek representation?

 

It is important to note that a “settlement agent shall not charge duplicative or padded fees for escrow, closing, or settlement services.” 14VAC395-75(A)(4). Therefore, if the seller chooses to retain counsel, the Settlement Agent cannot charge extra fees for services that were not actually rendered by the Settlement Agent or for services that were performed by the seller's attorney.



Commercial Council