We all know that title insurance is a necessary cost that most all transactions incur. Depending upon your local customs and/or the negotiations between the seller and the buyer one of them is going to pay these charges.

No matter whom you represent no one wants to see any party overpay for this rather expensive protection.  The title company generally earns a 70% commission on this protection and i have found it rare that they volunteer ways to save money in this regard.

Any policy being issued within the State of Florida, wherein there was a prior policy issued within 3 years prior, is entitled to a substantial reissue credit.  Contrary to what many believe the new buyer is entitled to this credit.

For example, a new purchase would incur approximately $2500.00 in a new policy charge. Let's assume the property was purchased 2 years prior by the current seller for $350k.  The new policy would be entitled to a reissue credit of approximately $750.00. Please excuse the fact that I do not currently have the promulgated rate table available to me today. These numbers are provided as approximated illustrations.

We always seek the prior policy from the seller or track it down.  We're also amazed at the seller's Realtor that inquire as to why we're seeking the policy and that they're shocked to learn of this credit that is so often forgotten.