Who Pays for Title Insurance in Florida?

Many people dream of buying a home one day, but most underestimate the amount of stress that coincides with the process.

Not only are there a number of financial details to configure, real estate language to decode, and paperwork to file, you also have to remember the importance of title insurance.

What is the Purpose of Title Insurance?

Title insurance is necessary when you’re purchasing a home. It protects the lender and the buyer from any unforeseen events related to the house or the deed that may cause financial loss to either party.

For example, if you buy a home only to find out that the person who sold it wasn’t legally allowed to do so, title insurance will protect you. Without it, the lender and the buyer could lose a significant amount of money.

At Heights Title, we handle all the difficult aspects so you don’t have to. All the while, you’ll be exceedingly protected.

Who Pays for Title Insurance in Florida?

The answer as to who pays for title insurance in Florida varies from one county to another. In many cases, the paying party can be negotiated within the contract, so the answer varies from case to case.

In most situations, though, the seller pays the title insurance fees. This is common practice in the state of Florida, with the exception of these counties:

• Broward County
• Sarasota County
• Miami-Dade County
• Collier County

You’ll often find that the cost of title insurance is included in the closing costs of the home. They’re so inconsequential that they often go unnoticed by consumers. It’s very rare for these costs to be unreasonable – they remain consistent from company to company because they are governed by Florida law.

Title insurance requires only a one-time premium and nothing else, and the price of that premium depends on the cost of the property being purchased.

Working With Heights Title

In the end, the party who pays for the title insurance has the final say on what agency is used. Here at Heights Title, we have a strong working relationship with a number of real estate agencies and lenders. That means we are often the premier choice for title insurance in the state of Florida.

The process of title insurance is one that’s very familiar to us at Heights Title. Get in touch with one of our agents today to learn what we can do to make your home-buying experience easier.