How Much Is Title Insurance in Philadelphia?
Following up on our previous article, What is Title Insurance?, today, we will look at how much title insurance costs. Specifically, in Pennsylvania and Philadelphia, determining how much title insurance costs is a pretty straightforward topic. In Pennsylvania, title insurance is regulated and there is a cap on the cost. This means that if you live in Pennsylvania, or more specifically, Philadelphia, most title insurance quotes you receive should be in the same ballpark. Check out our video below for our breakdown on exactly how to calculate the cost of title insurance in Philadelphia.
As you can see, title insurance is based on the sale price of your property. Therefore, you should expect to see similar quotes regardless of which company you use. Of course, it is still important to find a reputable company for your title insurance.
In our example, the cost of the title insurance policy was about 1% of the home’s sale price. If you wind up in a situation without the protection of title insurance, you could potentially lose the property. This is why it is so important to have title insurance and required by lenders. Even if you are buying a property in cash, it definitely makes sense to have title insurance.
We hope you enjoyed our video and article about the cost of title insurance in Pennsylvania! If you have any more questions about the home buying or selling process, call us today at 215-770-3122 or send us a message online.