Title Insurance Rates, Reissue Rates, Recordation Fees and Taxes
Title insurance is a valuable but commonly misunderstood product. The cost of the one time title insurance premium is often the largest title-related expense in a real estate transaction for the buyer. The information contained within our website and through the links provided enables you to make an informed decision as to the advisability, availability and pricing of title insurance.
As a homeowner, you should never find yourself without title insurance. Without it, you run the risk of losing your home or paying to defend your ownership rights in the property. That can become an expensive and time consuming legal challenge and one that could have been avoided.
What separates Counselors Title from most other title companies is that we aggressively work with our Buyers to save them money through available reissue rates. A reissue rate is a discount of the title insurance premium based upon the existence of a previous title insurance policy on the same property.
In most cases, when you purchase a home that has an existing title policy in place, you are entitled to a discounted or reissue rate on the new title policy issued to you. Thus you are able to receive the same valuable coverage at a reduced premium. We go out of our way to identify those cases where a title policy can be reissued and, in most cases, obtain the documentation necessary to apply the reissue rate for you! Then, we pass on those savings to you. We think that is the right thing to do – do a little more work, to save you more money. Annually, we saved our clients hundreds of thousands of dollars in reissue credits and we’re always on the look out to save our clients more money this way.
Each transaction is unique in terms of the government recordation fees and taxes that are required to be paid. The exact amount of these fees can vary based upon a number of factors including, but not limited to: jurisdiction, sales price, loan amount(s), number of loans, intended use of property, and prior ownership.
Additionally, most title companies charge a myriad of confusing and superfluous fees on your settlement statement. Counselors is different, instead charging one low flat fee for assorted services, again saving the customer money.
At Counselors Title, we strive to provide each client with the best title policy for their needs at the most competitive rate available. Frequently, title companies do not discuss title insurance with their clients until the time of the actual closing and will not go out of their way to seek any reissue savings for you.
Please refer to our calculator for accurate estimates on Title Insurance Rates and closing costs for your particular transaction. We welcome your questions and will take the time to explain to you available coverage’s and premium amounts.