How much will title insurance cost on the purchase or sale of my property? – is a question clients often ask when planning for their closing costs or reserves.
To help consumers with that very question and to overcome confusion about title insurance, the California Land Title Association has just launched the CLTA TitleWizard web site.
On this web site you may enter the zip code and selling price of the property in question. You also enter whether you are the seller or buyer and if the property has sold within the previous five years.
After entering all information, the web site lists the cost of title insurance available from the CLTA Member insurance companies.
Keep in mind, however, that your Realtor may have a relationship with a particular title insurance company or representative who can provide a rate that is lower than those published on the CLTA TitleWizard web site. The best procedure would be to review the TitleWizard results and then ask your agent to get a quote for the cost of title insurance through their contacts.
Keep also in mind that not all title insurance policies are identical. Some which are more expensive may provide more coverage than the others. You should review the coverage of policies you are considering to determine if the coverage is all that you desire or more than you need.