Cost is at the top of mind for most people when buying a piece of commercial real estate. Buyers want to know how much everything is going to cost so they can budget accordingly. When it comes to title insurance, there are a variety of factors that can impact cost. In this article, we are going to talk about what you can reasonably expect to pay for title insurance and the various factors that go into the cost of a title insurance policy.
State & Regional Differences
The location of your property can have a big impact on the cost of your title policy, as title insurance regulations can vary from state to state. In most 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 in 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 variety of additional endorsements that can 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 in question and its associated value and risk factors.
Commercial Partners Title Company
Commercial Partners Title Company is a recognized expert in the commercial title insurance industry. Our team of title closers, underwriters, and attorneys provide top-notch customer service to each and every one of our clients. We can help you through every stage of the title insurance process, and make sure you feel comfortable at all times. Reach out to our commercial title experts today to learn more about the full extent of our services and discuss the details of your transaction. You can find us at our office in downtown Minneapolis. We also work with clients throughout the country.