How Much Does A Title Search Cost On Vacant Property?
By
Know It All
I want to get title search, and title insurance. I heard title search cost depends on the value of the land. Its just vacant land, no buildings. But I don’t want to have it done and it end up costing me $1000. Property is not worth over $5000 market value for sure. I also heard title insurance is extremely expensive. So if land is valued at $5,000 does anybody know the estimate of what the cost would be for title search & insurance? Thanks so much!!
2 Comments
October 15th, 2009 at 8:50 pm
The title search will run about 200, the insurance about 20 – 25 a year.
October 15th, 2009 at 8:59 pm
The cost (premium) of title insurance is based on the sales price. If there isn’t a sale but you want to buy title insurance, then use the current market value. There will be an additional (small) charge for the actual title search. A local title insurance company should be able to give you a quote over the phone. the total costs should be around a few hundred dollars.
realtor.sailor