When considering a commercial title policy, cost is an important factor. Many people have questions about what they are responsible for paying when it comes time to close on their property. In this article, we discuss what exactly you pay for and who pays for what with a commercial title insurance policy.
Every Transaction is Unique
The most important thing to remember here is that each and every commercial title insurance transaction is its own beast. Who pays for what at the closing table largely depends on what the buyer and seller negotiate. Typically, the buyer is the party that pays for title insurance, but that can differ based on the specific details of the transaction in question. Regardless of what the buyer and seller agree upon, who pays for what will be clearly defined in the closing documents.
Differences Between Locations
It’s important to remember that different locales (states, counties, etc.) have different ways in which they handle title insurance. That means it’s essential to understand the local customs where the transaction is taking place.
Experience You Can Count On
In a commercial real estate transaction, you want to make sure you have everything in order before it comes time to close on your property. That means preparing a lot of documents and collecting a lot of information. With so much going on, it’s no wonder that many people get overwhelmed by the process. That’s why working with a commercial title company is such a benefit. They can take many of these nitty gritty details off of your plate and make sure you are fully prepared for the closing table. Commercial Partners Title has over 200 years of combined experience among our team. Let us help you through your next commercial title transaction.