Question:

How to avoid expensive title insurance fees?

Answer:

Borrowers should not agree to pay costly title insurance fees. It is true that there are states who set their own title search and insurance costs, but title related costs vary by state or lender. And it pays to question whether or not to accept the fees offered by a specific title company, recommended by the lender or closing attorney.

Title Insurance Fees will Vary by State and Company

You should inquire whether the state sets title related fees. If they do, there is little you could about that. However, some states don't and there will be a variety of title insurance policies with different costs. In most states, title companies are simply required to file their title charges and therefore title insurance and service fees can vary greatly among title insurers.

The title insurance fees combined may include title search, premium, closing and examination fees. If title endorsements are required, and you have an expensive piece of property, title fees will go up. You should shop for title costs if you happen to live in such a state where title insurance shopping pays.

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