1. Shop Around for Title Services
Even if title insurance rates are state-regulated, title service fees can vary.
Compare prices from multiple title companies to find the best deal.
Ask your real estate agent for recommendations, but don’t feel obligated to use their preferred company.
2. Request a Reissue Rate (Discounted Rate)
If the current owner recently purchased or refinanced the home, you may qualify for a reissue rate (a discount of up to 40% off the standard title insurance cost). Check with the seller’s title insurance provider to see if this applies.
3. Use the Same Title Company as the Seller
If the seller recently bought or refinanced the home, their title company may already have a title search on file, which can lead to lower fees. Ask the seller for their title insurance details and see if their provider offers discounts for returning customers.
4. Compare Bundled Title & Settlement Services
Some title companies bundle services like escrow, closing, and notary fees, which can result in lower overall costs.
Ask for an itemized breakdown of costs and see if bundling saves money.
5. Negotiate Who Pays for the Title Insurance
In some states, the buyer and seller negotiate who pays for title insurance.
Depending on market conditions, you may be able to ask the seller to cover the cost as part of the deal.
6. Consider an Independent Title Company Instead of a Lender-Recommended One
Lenders often have preferred title companies, but they may charge higher fees.
Compare independent companies to see if you can get better pricing.
7. Refinance? Ask About a Discount
If you're refinancing, check if your current title insurance provider offers a discounted rate on the new policy.
Some providers offer reduced rates if the refinance is within a certain time frame (e.g., 3-10 years of the original purchase).
8. Verify Title Fees in the Loan Estimate & Closing Disclosure
Lenders must provide a Loan Estimate and Closing Disclosure outlining all title-related costs.
Review these documents to spot unnecessary fees or overcharges and negotiate if needed.
By taking these steps, buyers and sellers can cut costs on title insurance while still ensuring proper coverage and protection. How To Save On A Home Title Insurance Policy