Cost is at the top of mind for most people when purchasing a piece of commercial real estate. Buyers want to know how much everything is going to cost to allow them to budget accordingly. When it comes to title insurance, there are a variety of things that can impact cost. In this article, we will discuss what you could reasonably expect to pay for title insurance and the various factors that go into the price of a title insurance policy.
State & Regional Differences
The location of the property can have a big impact on the cost of the title policy, as title insurance regulations can differ from state to state. In many states, title insurance premiums are set by the state regulators. However, some states allow title companies to deviate from these set rates. So a policy in one state might cost $2000, while the same policy inside a different state might cost $4000. It all depends on the property, its location, and the various state and local regulations associated with it.
There are a number of additional endorsements that could be added to your title insurance. These can cover additional issues such as zoning conflicts and environmental issues. The cost for these endorsements is extremely dependent on the property under consideration and its associated value and risk factors.
Commercial Partners Title Company
Commercial Partners Title Company is really a recognized expert within the commercial title insurance industry. Our team of title closers, underwriters, and attorneys provide top-notch customer service to every single one of our clients. We can help you through every stage of the title insurance process, and ensure you are feeling comfortable at all times. Reach out to our commercial title experts today to learn more about the full extent in our services and discuss the details of your transaction. You'll find us at our office in downtown Minneapolis. We also work with clients throughout the country.