Save on closing costs with DC title policy reissue rates
Nothing makes buyers happier than saving money on a home purchase!
Closing costs really add up, and one of the key costs is your title coverage. Did you know that you may be able to save a significant amount on your title costs by requesting a title policy reissue rate?
To qualify for a reissue rate, the current policy must be less than 10 years old and you must provide a copy (or sufficient information on the issuer so your new title company can research for you) of the seller's current owner's title policy. If you're worried the seller may not cooperate (finding those old documents can be a hassle), ask your agent to add a provision to your offer requiring the seller to provide the information by a certain date.
The new title policy reissue rate is based on the the coverage amount of the Seller's current policy.
Some restrictions may apply when using special loan programs, so be sure to ask your lender if you can get a title policy reissue rate with your loan.