DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: Title Tip: How Much Are Closing Costs?
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Blog > Title Tip: How Much Are Closing Costs?
Blog

Title Tip: How Much Are Closing Costs?

4 Min Read
SHARE

Texas-title-rates

By Lydia Blair
Special Contributor

Closing costs are expensive when selling a property. Fortunately, they are deducted from the seller’s proceeds at the time of the sale. So when the expenses are lumped into the pile of paperwork at the closing table, the cost of selling a home can be less evident.

How much are closing costs? That depends. How nice are you to the title company?

Just kidding. 

Closing costs vary depending on the sales price, county, type of property (single family home, condo, raw land, etc.), and other factors that have nothing to do with how nice you play. Who pays the closing costs – buyer or seller — are sometimes mandated, sometimes standard practice, and sometimes can be negotiated. In Dallas, it is common, but not mandatory, for the seller to pay the broker commissions, prorated taxes, recording fee, escrow fees, tax certificate, document preparation costs, HOA transfer fees, resale certificate and other miscellaneous negotiable costs (like a home warranty or survey).

One of the large closing expenses is the title insurance premium. In Texas, title insurance rates are established by Texas Department of Insurance and all title companies must charge the same for title insurance. In other states, consumers often shop around for title insurance like they would for auto or home insurance.

The following Title Insurance Basic Premium Rates are based on the sales price of the property. Premiums for policies $100,000 and over in Dallas County are:

Texas-title-rates
 Additionally, there are endorsements that can be added on to include coverage for survey deletion, leaseholds, condos, etc. Those are an additional charge. But the good news that unlike auto, home or health insurance, you pay this premium only once at closing. It’s not an ongoing cost like other types of insurance.

Title companies may charge different amounts for the closing costs outside of the title insurance policy. One may charge slightly more or less for the attorney review while another may charge more of less for the courier fees. But they are typically within a few dollars of each other when you look at the total costs.

It’s always a good idea to get title insurance and lenders require it to finance a purchase. Title insurance protects homebuyers from other claims of ownership, outstanding debts of previous owners, fraud, and other title potential problems. Before issuing a title insurance policy, the title company will check for problems with a title by researching public records, deeds, mortgages, wills, divorce decrees, court judgments, tax records, liens, encumbrances, etc. If there is a claim against your property after purchase, the company will defend you in court and will pay you for covered losses up to the amount of your policy.

Like any regulated service business, the difference between one title company and another comes down to service and reputation. If you’re not frequently selling a home, it’s unlikely you know which title companies offer the best service. That’s where a knowledgeable Realtor comes in. They generally can’t save you any money. But good agents have good relationships with title companies that can help make the process run smoothly.

Classic French Luxury Living in Highland Park
Fill Your Home With Art and Help Precious Children All At The Same Time
My Favorite Homebuying Movie: ‘Mr. Blandings Builds His Dream House’
How Long Does It Take for a Cash Buyer to Close?
Mark McLemore Lists Gated Southlake Estate With Tennis Court, Private Pond, & Baseball-Bottomed Pool
Share This Article
Facebook Email Copy Link Print
Previous Article Splurge vs. Steal: Two Sweet Spots in Lake Highlands’ Laurel Valley
Next Article Noblett Takes Unique Route to Dallas City Center
Popular News
Dallas homes under $400K

“Ohh That’s Impeccable” And Other Phrases Inspired By 2113 Ash Grove Way

Live History In Repurposed East Dallas Schoolhouse
Three Homes With Father’s Day Upgrades Any Dad Would Love
Dallas Poised to Adopt Economic Development Policy Focused on Infrastructure And Incentives
A Mere $19.5m Snags The Original Luxe Showhouse in The Creeks of Preston Hollow
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission
  • Real Estate Glossary

Categories

  • Commercial Real Estate
  • Home Inspection
  • East Dallas
  • Monday Morning Millionaire

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?