Title insurance is an insurance policy that protects property buyers and mortgage lenders against defects or problems with the property's ownership (title).  This guards against claims from someone unknown person from claiming they own the home you just purchased!

Home buyers typically need two title insurance policies: an owner's policy to protect themselves and a lender's policy to protect the lender.

In Florida the cost of title insurance is regulated which requires every title insurance premium to cost the same amount.  At Gerstin & Associates attorneys handle your title insurance and closing at no extra cost!

The cost of title insurance varies based on the purchase price of the property as follows:

• Purchase Prices up to $100,000: $5.75 per thousand
• Purchase Prices Over $100,000: $5.00 per thousand

So, for example, a property worth $100,000 would have a title insurance fee of $575, while a $200,000 piece of property would have a $1,075 title insurance cost.

Contact us today for your custom quote.

In Florida, the person responsible for paying for title insurance depends on the county the property is located in.  In Palm Beach County, the seller typically pays for the title insurance and chooses the title company. In Broward and Miami-Dade County the buyer typically pays for the title insurance and chooses the title company.

While title insurance and closing costs are typically paid by certain parties, all costs are negotiable and can be specific to the contract you sign. It's in your best interest to request a free, no-obligation title insurance quote to determine which fees you’re responsible for paying.

If you are still unsure who should pay for title insurance in your real estate transaction, contact us today, we are happy to help!