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By David deForrest
General Manager
real estate miami beach, miami beach real estate, realtor miami beach, miami beach realty, miami beach investment, miami beach propertydf.jpg (8763 bytes)

My attorney tells me that Title Insurance prices are regulated by the State and that he/she can't discount them. Is this true?

Not anymore! The State Supreme Court has struck down, in a 5-1 decision, the legality of the "Promulgated Rate" for title insurance. Since, under that illegal price-fixing rule the attorney or title company issuing title insurance received a profit of 70% on policies under $1,000,000 sooner or later prices ought to come down.

Alas, so far this has not happened in our marketplace. It is still common to see attorneys and title companies charging buyers prices greater than "Promulgated Rate" for title insurance. At the very least, you should expect to pay the "Promulgated Rate"  and no more. If you link here you can download or review the current pricing for title insurance. Keep in mind that lenders usually require additional "endorsements" that add to the cost.

 

 


Unless otherwise stated square footage and lot dimensions appearing herein are derived from county records and may or may not be accurate.
If square footage is material to a transaction a survey or other measurement is recommended. This information deemed reliable but not guaranteed. Current or previous year’s taxes may not accurately forecast future property taxes. Property taxes can increase from one year to the next for various reasons.

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800 West Avenue, Miami Beach, FL 33139 USA
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