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The seller pays for owner title policy in California, as well. There are some title costs affilitiated with securing a mortgage that the buyer does pay for.
Interesting. Here in NY, the buyer pays for it. The fee is regulated by the state and is standard.
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239 - it is not mandatory in MA. However, it's buyer who pays for it should they decide to go for it.
It's negotiable here in Florida. Different counties have different customary practices.
Oops... I got to see this.
It is a buyer expense but is mostly negotiated as seller to pay as an incentive to buy.
In GA. you can ask in the contract for the seller to pay or the buyer pays.
Hi Russ - in Southern California, the seller typically pays for the owner's title insurance policy and I believe it's handled differently in Northern California. The buyer will be required by their lender to have a policy to cover the loan amount. That said, everything in real estate is negotiable.
It's a choice in the Texas contract, but customary for the seller to pay. However, in this hot market, I'm seeing some sellers refusing to do so.
buyer pays for the title policy in Massachusetts.....
Completely negotiable in Oklahoma. What is "customary", and I detest that word" is contracts that ask for the seller to update the abstract which we have here, do the title opinion and gap check, and then the buyer pays the title insurance.
Ditto, here in NJ it is a buyer's expense, and one of the biggest expenses among closing closts. Fees are regulated here as well.
in Maryland, DC and Virginia, the buyer pays for the title insurance. Interesting how different things are around the country
Russ, I find this interesting. In NC and SC, the buyer pays for their own title policy unless it's negotiated otherwise upfront. It is a policy for the buyer and their lender, afterall.
If I am correct, the buyer pays for it here in Tennessee.
It's typically a charge to the seller in my market. If the buyers wants extended coverage that can be negotiated as to who will pay for it.
The seller pays for the owners policy and the buyer the lenders policy. Yes, there are recording fees, closing fees, deed prep fees, etc.