Title services and lender's title insurance, too high?? (foreclosure, fees, property)

[Bostonlover]

I just received my GFE and the fees seem really high to me. I could use some input on what others have experienced.

Purchasing in Florida, 92,000 home.

The Title services and lender's title insurance is quoted as $1,225.00.


Then there is an optional Owner's title insurance of $552.00......is that necessary?

I've never purchased in Florida before so I'm not sure, but does this seem high to anyone else? Thanks.

[sean_nj]

Purchasing in NJ, $399,000 Townhome.

The Title services and lender's title insurance is quoted as $1,834.00.


Then there is an optional Owner's title insurance of $25.00

Sean

[Off Topic]

Originally Posted by Bostonlover

I just received my GFE and the fees seem really high to me. I could use some input on what others have experienced.

Purchasing in Florida, 92,000 home.

The Title services and lender's title insurance is quoted as $1,225.00.

I'm not from Florida but it seems only a tiny bit high to me. That's probably the closing fee, the title search, shipping, recording and lender's title insurance.

Originally Posted by Bostonlover

Then there is an optional Owner's title insurance of $552.00......is that necessary?

Not required but sometimes a good idea. If I were putting a lot down, or the property was being sold out of a foreclosure or estate, I'd consider buying it.

Ask your seller's if they bought owner's title insurance when they got the place. Depending on how long ago that was and who it was purchased through, that might actually allow you to get a small discount on your title insurance.