Quote:
Originally Posted by Bonanza
WRONG! In Florida, the person who is paying for title insurance is the one who traditionally chooses the attorney or title company.
What "fees" are you speaking about because if you are referring to all fees, that the seller pays those is also incorrect.
The person who pays for title insurance varies from county to county, and whoever pays the title insurance (be it buyer or seller) is not a fact necessarily cast in concrete. As with so many things, it can be negotiated.
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Huh? Title insurance is an optional insurance policy that the buyer can purchase if they want to. It is not mandatory. It protects the buyer from legal claims against the property for as long as they own the property. But, the seller pays for a title "search" which ensures that the deed is free of any liens or other claims against the property and allows a clear title to convey to the buyer. The title search is not title insurance. The seller is responsible for all costs associated with conveying a free and clear title to the buyer.
If there is a mortgage, the lender may require the buyer to pay for a lender's title insurance policy which protects the lender's interest in the property, but not the buyer's interest.