Title Insurance In Pennsylvania
Hi,
I am in investor in Florida. In some counties here, buyer pays for title insurance, and in some (to my understanding) the seller pays.
I am considering a new transaction in Pennsylvania.
Who pays for title insurance in Pennyslvania? How are other closing costs allocated?
Any help would be much appreciated.
Thanks,
Larry
I am a mortgage broker here in Pa and my experience with buyer/seller is that the transfer tax on the property is spit down the middle 1%/1%. The title insurance is usually paid by the buyer and depending upon the seller, some sellers will assist up to 6%. Again, it depends upon the seller. Title insurance is usually always associated with the buyer's costs. Title insurance is directly proportional to the loan amount in cost. Hope this helps.
Jason Sardi
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