Home Selling in Los Angeles>Question Details

Billg, Home Seller in Los Angeles, CA

What is the title insurance rate for the city of Los Angeles?

Asked by Billg, Los Angeles, CA Thu Jun 25, 2009

I am looking for a percentage rate or other calculation I can enter into my closing cost spreadsheet. I don't want to browse the internet for a free calculator every time i get an offer and the loan ammount changes (plus their results vary widely)

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Billg’s answer
Thank you all for your answers and your time.

I have ballpark figures, which seem to be all that anyone not employed by a title company can give. I had this fantasy about accuracy. And not being tagged as a sales lead.

So, it comes down to proprietary coverage, rates, fees, and bundled services from each provider. Caveat Emptor.

If title companies intended to tell the public, the information would be published. It is not. So I need to spend valuable time researching rates and variable service offerings that should be easily comparable and are not. And as one of you pointed out - just like the rest of the insurance industry. Oh well - I will just spend the time and in the meantime use a worst case - and be pleasantly surprised if I am overly pessimistic.

Thank you again.
Billg
0 votes Thank Flag Link Thu Jun 25, 2009
Bill You are going to need title insurance anyway, why not ask a title company? I am sure that they would tell you. It is not a secret.
It sounds as though you are selling without professional representation, so ask around. I am sure they can direct you.

BTW, beware of potential appraisal issues affecting the sale price and buyer qualifications.
0 votes Thank Flag Link Thu Jun 25, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Bill,
The title insurance rate is going to be based on
1) if you are selling, the sale price
2) if you are buying, on the loan amount.

The rate changes according to the the bracket you are in, it changes in increment so there is no one fixed rate. Here are 2 examples.
1)If you buy a single family home for the amount of $500,000 the the title insurance will run about $1386
2) If you buy a single Family residence for $1,000,000 it will cost about $2,266

I hope that this gives you an idea. In your case you will have to get a title company give you the details. The formula will change with the amount , so I am sot sure how you will input that in the worksheet. The worksheet is a great way to project and I am sure that you are an expert at it, so if you get the chart from Equity Title and input the right formula in the right place, you are in good shape. I guess that if you are selling you will need a Title company anyway, so pick one and ask them now already.

If you are selling, you will know more once you have an accepted offer on your property. Equity Title has a very record and is a good company that I recommend for their professionalism and fast response. If I can help in any way, feel free to contact me and have a great day!

Muriel Levin
Coldwell Banker Realtor
Agent Immobilier Los Angeles, Californie
muriellevin@coldwellbanker.com
Web Reference: http://www.muriellevin.com
0 votes Thank Flag Link Thu Jun 25, 2009
Hi Bill,
There is no set rate for title insurance. Just like any other type of insurance, it varys per company and it is based on sales price. Just to give you an example. A rate of $1328 on a sales price of $500,000 & $876 on a sales price of $250,000. I hope this was helpful to you, Please feel free to give me a call if you have additional questions.
0 votes Thank Flag Link Thu Jun 25, 2009
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