The “usual and customary” Title costs for Owner on an Ordinary Refinance deal in the Central Florida area are as follows:
Mortgage Policy – Mortgage Amount x .00575
Policy Endorsements – $175.00 Estimate
Closing Fee – $450.00
Title Search – $100.00
Endorsements : To calculate the Florida 9 endorsement, take 10% of the mortgage policy. Most other ALTA endorsements are $25.00 per endorsement.
Note: Our closing fee includes wire fees, express mail, courier fees and doc imaging.
Tax on Documents
Mortgages and written obligations to pay money are taxed at the rate of 35¢ per $100.00 (or fraction thereof.)
Intangible Personal Property Tax:
Mortgage notes (and any promise to pay a sum of money on real estate) are taxed at the rate of two mills on the dollar (.20 per hundred) value of the mortgage/promise to pay.
Documents must be properly executed (signed, witnessed, acknowledge, and notarized under seal.)
Documents must have a proper “prepared by” statement.
Documents must, when required, have the proper documentary stamps affixed.
The Department of Revenue Form regarding the transfer of property must be completed and filed.
Documents must have a blank space (3″ x 3″) on the top right-hand corner on the first page, a blank space (1″ x 3″) on the top right-hand corner on each subsequent page, reserved for use by the Clerk of the Court.
Prices subject to change without notice.
A reduced title rate, called “reissue rate,” is provided on refinance loans for borrowers who provide a copy of their Owner’s Policy of Title Insurance. This reissue rate is also given to a seller, if they have owned their home less than three years and provide their Owner’s Policy of Title Insurance. The reissue rate is based on the original owner’s policy versus the new title policy.
Ultimately, the primary role of a title company is insuring title to real property. Our staff has the expertise to make the process go smoothly, and will handle your transaction with knowledge, professionalism and courtesy.
NO KICKBACKS! We do not participate in any kickback arrangements with brokers, lenders or realtors, commonly disguised and cleverly marketed to you as one-stop shopping. These types of organizations refer to themselves as having “Affiliated Business Agreements”, “Controlled Business Arrangements” or LLC Companies.
Southern Title & Abstract does not participate in arrangements of this sort.