Page 50 - Real Estate Laws and Customs - State by State Guide by Old Republic Title

State Locations

A STATE - BY - STATE GUIDE
REAL ESTATE LAWS AND CUSTOMS VIRGINIA

Title Insurance Rates VIRGINIA
Negotiable; Not Filed; Required to be Published

Form of Conveyance VIRGINIA
Warranty Deed (General or Special)

State Encumbrance Forms VIRGINIA
Deed of Trust; Mortgage (Rare)

Customary Closing Entity VIRGINIA
RESA Registered Attorney or RESA Registered Non-Attorney Settlement Agent

Commitment Issued? Duration? VIRGINIA
Yes; 6 Months

When Is Invoice Issued? VIRGINIA
With Commitment

Deed Transfer Tax? VIRGINIA
Yes; State/Local Grantee Tax; Grantor Tax

Mortgage Tax? VIRGINIA
Yes

Leasehold Tax? VIRGINIA
Yes

Remote Online Notarization (RON) Status VIRGINIA
In Effect
CUSTOMARY SPLITS

Owner’s Policy Premium VIRGINIA
Buyer Pays

Loan Policy Premium VIRGINIA
Buyer Pays

Title Search and Exam Fees VIRGINIA
Buyer Pays

Survey Charges VIRGINIA
Buyer Pays; Sometimes Negotiated

Deed Transfer Tax VIRGINIA
Buyer Pays Grantee Tax; Seller Pays Grantor Tax

Mortgage Tax VIRGINIA
Buyer Pays

Closing Fees VIRGINIA
Negotiable

Recording Fees VIRGINIA
Buyer Pays

UCC coverage is available; for assistance with your transaction contact UCC@oldrepublictitle.com 50

oldrepublictitle.com/ncs Updated 07/2023