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Rainmaker
1,610,441
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Cost is set by the State and have never seen a client need it.

Oct 23, 2016 10:14 PM
Rainmaker
3,724,207
Richard Weeks
Dallas, TX
REALTOR®, Broker

In Texas the State Board of Insurance sets the rate.  I know one client who needed because the title company missed a lien on the property.

Oct 23, 2016 10:07 PM
Rainmaker
3,830,621
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I had clients use their title insurance for a lot line issue.  As far as the cost is calculated, I would ask my title officer.  

Oct 23, 2016 11:38 PM
Rainmaker
4,433,283
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Sandy has the answer. 

Oct 23, 2016 11:37 PM
Rainmaker
813,223
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I'm not aware of anyone using it, but they could have used it without letting me know.

Oct 23, 2016 11:25 PM
Rainmaker
3,854,202
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Have seen it used for an eassement issue. The state regulates standard charges which in some cases can be negotiable!

Oct 23, 2016 11:18 PM
Rainmaker
1,430,777
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jason Osborn I know of a situation where a homeowner wished they had title insurance when an unexpected mechanics lien came up when trying to sell.

Oct 23, 2016 11:07 PM
Rainmaker
411,487
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, GRI,SFR, REALTOR®

Jason,

Title insurance rates in Florida are promulgated by the state. You may get a discount/credit if selling within three years of purchase.

Oct 23, 2016 10:57 PM
Rainmaker
3,265,079
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have seen people use it and others wish they had it. Most often it is for a missing release from a former mortgage

Oct 23, 2016 10:32 PM
Rainmaker
5,539,536
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I have not seen a situation, but one can't take the chance of being without it....

Oct 23, 2016 10:05 PM
Rainmaker
500,303
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

During the recession, I encouraged the purchase of extended coverage for REO properties which were under different stages of construction, or which had extensive work done after the bank foreclosed.  In one case, the purchase of this saved a buyer from a $12,000 claim.

Oct 24, 2016 01:03 AM
Rainmaker
1,604,878
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I've never known of a client needing it, but I needed it once.  Saved me $10,000 by having it because a previous lien had not been cleared before I took title.

Oct 24, 2016 12:29 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

Title insurance cost is based on the pricing methodology provided by the title insurance company.  Legal counsel arranges the insurance not agents in my jurisdiction.

Oct 24, 2016 12:29 AM
Rainmaker
3,069,179
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Corinne Guest, Managing Broker nailed this one!

Oct 24, 2016 12:25 AM
Rainmaker
850,060
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Like others have reported, missed lien.

On one transaction, the week of closing $231,000 municipal lean uncovered. Negotiated that way down and closed 14 days later. If that had been missed....and the buyer skipped title insurance...the classic 'hit the fan' would have been unavoidable. EVERYONE would have been sued.

Oct 23, 2016 11:45 PM
Rainmaker
2,590,904
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Ran a pre-lim that showed no liens and then closed. Right after, someone filed a lien during my coverage period and they handled the claim expertly. Highly recommend Title Insurance

Oct 23, 2016 11:08 PM
Rainmaker
4,069,294
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Our is set by the state and NEVER have had a client not use it.

Oct 23, 2016 10:42 PM
Rainmaker
4,564,764
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have not had a client that used title insurance that I know of, and the costs are determined by Department of Insurance.

Oct 25, 2016 04:32 AM
Rainmaker
3,985,753
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Cost is by value of the property or loan.

Most times I have seen a property line dispute

Oct 24, 2016 10:55 AM
Ambassador
1,706,936
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

No title company will close even a cash loan in Oklahoma City without title insurance. Cost is calculated on sales price.

Oct 24, 2016 05:00 AM
Rainmaker
1,337,413
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Only seen it once when there was an easement or lot issue that didn't get discovered by title searches and wasn't known by anyone.  Very rare instance.

Oct 24, 2016 04:31 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It is a set fee in Florida.  Mandatory when a mortgage is used.

Oct 24, 2016 03:38 AM
Rainmaker
1,119,832
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Wrong question, it is mandatory no way to get around.

Oct 24, 2016 02:36 AM
Rainmaker
1,992,400
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

A must for a Mortgage !

Oct 24, 2016 02:12 AM
Rainmaker
1,231,318
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Settlement company has chart for title insurance costs.  Never  a client who needed to use the services of title insurance company

Oct 24, 2016 01:45 AM