Title Insurance Fees - A Quick Look

Title Insurance costs are mandated in the State of Ohio by the Department of Insurance.

The cost for an Owners Policy is set at $5.75 per thousand for the ALTA 2006, up to $150,001.00. The price drops the higher the purchase price. ALTA 1998 policies cost 15% more. The ALTA 1998 covers more and is written into all of my contracts

A Lender’s Premium is $4.00 per thousand up to $150,000.00 and then the rate drops the higher the loan amount. However, if the transaction has an owner’s policy with a lender policy for residential, the cost is a flat rate of $100.00 for the lender’s policy with the cost of the owner’s policy.

In this area, it is customary for the Seller to provide Title Insurance to the Buyer, thus typically chooses the title company. Of course, anything can be written into a contract should there be a Buyer preference.

While this is one cost most Sellers in HAH will encounter when selling a home, there are more. Feel free to contact me for information on selling a home in Hide-A-Way Hills.