One of the most common questions we hear from Pensacola-area buyers and sellers: who actually pays for title insurance? Here's how it usually works in our part of Florida.
In Florida, who pays for the owner's title policy is set by local custom and is negotiable in the contract — it isn't fixed by law. Customs vary from county to county across the state.
In Escambia and Santa Rosa Counties, it's customary for the seller to pay for the owner's title insurance policy. That said, everything in a real estate contract can be negotiated, so your purchase agreement always controls.
If you're financing your home, your lender will require a lender's title policy. The buyer typically pays for this, but when it's issued at the same time as the owner's policy, Florida's simultaneous-issue rate makes the lender's policy just $25.
Florida title insurance premiums are set by a state promulgated rate based on the property's price. You can estimate yours with our title insurance calculator, or call us for an exact quote for your Pensacola-area closing.
Absolute Title of Florida is your local title & closing team in Pace, serving all of Northwest Florida.
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