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Are title insurance fees negotiable or am I just stuck with them?

by MBurns from Springfield, Missouri. Apr 25th 2013 Reply


James Casson (jimcasson@jcmtg.com)
#46 ranked lender in Kansas - 12 contributions

The standard is that title insurance companies have to file their rates with the state. However that is for the insurance portion only. There is certainly latitude on the settlement/closing fee and any other fees they charge. And, in practice, the companies are usually willing to grant exceptions to the rate sheet insurance prices. Good hunting...

Apr 25th 2013
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Barb Lanis (BarbLanis)
#70 ranked lender in Illinois - 663 contributions

You can shop around for title insurance services. You will probably find the charges fairly close between companies.

Apr 25th 2013
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,479 contributions

Most title companies have special pricing for "Investors"... and it's possible they can offer a discount.. but if you go line for line and try to negotiate every item, they probably will tell you to go elsewhere.. that being said,,, you should shop for title fees before your loan is submitted, not after.. and it's bad advise for anyone here to tell you not to get title insurance.. if your financing, the lender will require a lenders policy.. if your selling, you could waive it, but for the small price you pay for a lifetime of coverage, your better off spending the money and be done.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 25th 2013
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,815 contributions

In all states I have worked in, the Title fees are fixed by transaction type because the company is regulated by the Department of Insurance. In this case, the company files a schedule of fees with the department and they are stuck with them. If you do multiple transactions or repeat business there fee schedule has breaks built in that they can offer. Ask. The worst that happens is they say no. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Apr 25th 2013
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Chris Lockard (christopherlockard)
#17 ranked lender in Kansas - 9 contributions

They are negotiable and I always encourage borrowers to shop around. You can also waive your rights to a title insurance policy as well, but you must give written permission and understand the potential consequences of it. Hope that helps! If you have specific questions feel free to message me privately!-Chris LockardChristopherlockard@leader1.com

Apr 25th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Title insurance fees are generally regulated and most title insurance companies will be very similar.

Apr 25th 2013
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Bartolomeo Castelli (BartCastelli)
#32 ranked lender in Missouri - 1,056 contributions

Some of the fees associated from a title company are negotiable. The ones that are not are set forth by the Department of Insurance as this was a very big problem in the industry several years ago until everyone had to follow the same guidelines. Some of the fees that are negotiable are the Settlement/Closing Fee, Abstracting/Examination Fee, and some other fees that they are trying to force upon you, such as Notary Fees, Courier Fees, Doc Preparation Fees, and the like. If you have any questions in regards to who you want to do business with here in Missouri, give me a call at 314-744-7806, or visit my website, www.CallTheMoneyMan.com.

Apr 25th 2013
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Kevin Monahan (kevinmonahan)
#905 ranked lender in California - 1 contribution

Title fees are negotiable. Your loan officer should be an advocate for you to get the lowest fees possible.

Apr 25th 2013
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Charlie Sparks (CharlieSparks)
#9 ranked lender in New Mexico - 397 contributions

Title insurance premiums and some other charges are usually regulated by the state. Search for the MO insurance commissioner's website and there should be link on it to the title insurance section. Other fees that title companies charge, such as fees for settlement, doc prep, etc. are usually unregulated so there could be some differences there.

Apr 25th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Some are but most aren't and it varies by states. If you are looking for some big windfall on the fees you won't find it. Keep in mind the they are insuring your most valued and highest priced item you own and they don't do that for free. If you want a compare call a couple companies and asked them for a quote on ALL their fees. I can guarantee you they they will be pretty close within only about $20-$40. If you find one our of several that is drastically cheaper, then remember the addage - "If it's sounds to good to be true, there is something amiss". You DO NOT want to go cheap on your title insurance.

Apr 25th 2013
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Jamie D. Hoisington (Hoisingtonteam)
#36 ranked lender in Missouri - 8 contributions

Hello MBurns!Yes, generally SOME title fees can be negotiable. Here at Greenbox Loans we typically use the same title company for every loan and we can get some special pricing now and again. If the situation is right... heck you might be able to have your fees lender credited to back to you and have zero fees!!!! Now, it will have to be shown on the HUD as a charge but then you are given a credit back so it washes itself out. I just honestly wouldnt know until we worked up some precise numbers for you and then get a GFE out, and once we send the numbers out to you.... they wont change!I would very much like to assist you and work up some accurate numbers for you.... Of course, no fees for that. :)Please give me a call at 866-687-8600 or email to: jh@greenboxloans.comJamie D. Hoisington

Apr 25th 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

You are able to get as many quotes as you like. Check around with some local ones near you, they usually can give you better pricing.

Apr 25th 2013
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James Mazzola (Mazzola)
#110 ranked lender in New Jersey - 313 contributions

Rates are pretty much the same. But you might have a little wiggle room

Apr 25th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

You should be able to choose your own title company.

Apr 25th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Title insurance fees are set by the State Department of Insurance, in most states. The attorney closing fee, and the abstract title search fee may be subject to negotiation.

Apr 25th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,238 contributions

You can shop around, typically they are very close but you have the right to choose any title company, home owners insurance and lender that you choose.

Apr 25th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,811 contributions

You can shop around for title companies, but you will quickly find there is little difference between them as they pretty much charge the exact same fees and costs because they are all doing the exact same work, and they have the exact same costs.

Apr 26th 2013
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Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

In New Jersey, title is REGULATED so there should be very little difference form one company to the other. Not sure about Missouri but you can also contact banking and insurance department in your state and they will clarify.

Apr 27th 2013
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