Title Insurance tips that will assist in putting all the pieces together.

When it comes to title insurance for real estate, many people see it as a closing cost that is a pointless expense.  However, once they understand the value of title insurance and the risk involved in not having it, it’s a no brainer.  Here are four helpful tips when it comes to the cost of title insurance and closing fees.

Tip #1: Decide and negotiate who will be paying for title insurance.  You can negotiate this in the contract but remember whoever is paying for title insurance gets to pick where the transaction closes.

Tip #2:  Pick the title company you feel comfortable with.  Most people don’t realize that they can pick which title company they close with, not just who their realtor recommends.  However, if you aren’t sure who to use your realtor is a good referral source as most realtors have relationships with title companies.

Tip #3:  You could be eligible to receive a re-issue credit on your title insurance premium.  Depending on the type of transaction and how long it has been since you bought the home, if you have the prior title policy you could be entitled to a discount. You should be asking your title company if you do qualify and provide your Owner’s title policy.

Tip #4:  Get quotes on title insurance from a few title companies.  While most of the rates in the state of Florida are standard, the fees from the title company are not.  Shop around and let the title companies know you’re looking for the best rates and some will negotiate with you. This will also give you a feel for who you may be working with, sometimes fees are not as important as how you are treated.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. 

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: Hiring a Moving Company for your Fort Myers Real Estate Closing

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