When it comes to your loan estimate, there are some costs that are paid to outside parties that you are free to shop for by comparing providers for a variety of services. These might include a pest inspection, or a survey to verify property lines, or a range of title-related services.

Title services might include:

  • A lender’s title policy, which protects the lender’s legal interest in their loan collateral—usually the property itself
  • Settlement agent fees, paid to the individual or company responsible for facilitating the final transaction
  • Title search, which clarifies and documents legal ownership of the property
  • A title insurance binder, which allows potential future use of the current title search results, conditions and exclusions for a short period to lower the cost of future title insurance.

If you select service providers from the list provided by the lender, their fees cannot change by more than 10% between the Loan Estimate and the final Loan Disclosure. If you select other providers, the lender is not responsible for changes in those costs.

At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: 5 Things Homebuyers Should Consider About Pools

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