Within LodeStar's Closing Cost Estimate Calculator, you will see a number of different questions with checkboxes. These questions help LodeStar quote the most accurate fees. They will differ based on the state, county and transaction types and can be manually checked and unchecked when needed.
You will also see that questions are already checked when LodeStar is opened. This is for two reasons:
- The question is a common scenario in that state.
- For example, for New York Purchases, LodeStar automatically checks the question, "Is property a 1-2 family dwelling or a single unit condominium or cooperative?", because this question contains property types that are frequent and standard in a sale.
- A field within the LOS identified that the question should be checked, so LodeStar will read from that field and check the checkbox for the corresponding question.
- For example, in Maryland, LodeStar will automatically check the checkbox for the question, "Is this property a principal residency?" when "Primary Property" is identified in field 1811 within Encompass.
Lastly, you will find attached a sheet that lays out each question, what state, county and transaction type you will see the questions available for, the question's explanation and then finally the effect that the question (whether checked or unchecked) has on the quote.
- For example, in Louisiana for Purchases within Orleans Parish, when the question "Is this Mortgage being concurrently recorded with a Deed?" is checked, it exempts the Mortgage Transfer Tax. LodeStar will not quote the Mortgage Tax.
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