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Old 04-26-2018, 07:11 PM
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Henryk Henryk is offline
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Originally Posted by CT514s View Post
I've sold properties in other parts of Florida, and the seller either provided you with a copy of their title policy OR gave you a closing credit of $300. This was to cover the cost of a full title search rather than just a run-down of title. Here in TV, the developer does NOT pay for the buyer's title insurance. But if you're the Seller of a resale property you are required to pay for the Buyer's title insurance policy. And that's not negotiable. Not quite fair in my opinion, but it seems to be the cost of doing business here. Incidentally, the company (law firm, closing title company, etc.) retains a percentage of the title insurance fee as their commission. Maybe that explains it all.
In Massachusetts, the title agent (attorney) got 70% of the title insurance premium.