Buying a home isn’t something you do every day. And along with this being one of the biggest purchases you’ll ever make, there are some supplemental costs to consider – like agent fees and the cost of title insurance.
The cost of title insurance can vary depending on a few different factors, and the final cost can range from a couple hundred dollars to a few thousand dollars. While the big factor in determining the cost of title insurance is the purchase price of your home and the total loan amount being used to purchase the home, there are also a few extenuating factors that can impact the final cost, such as specific county fees that are dependent on where you buy.
One common misconception with title insurance is that the insurance costs will change based on whether there are issues found during the title search and examination process. This actually has no bearing on the cost of title insurance – the cost is the same no matter how many complexities are found.
As you begin to research which title company you’ll use to finalize the purchase of your new home, you might notice that different companies present you with vastly different estimates of your end costs. Before you take that quote at face value, be sure to ask what services and fees are included in the quoted amount.
At Trademark, we include all of our fees in our title insurance calculators, and break down exactly what you’re paying for. We want you to be able to plan for the total cost of your home purchase – not surprise you with another bill you weren’t expecting after closing.
Have questions about closing costs or how to find the best price on title insurance? Our team is happy to help! Email us to schedule some time to chat today. email@example.com