Owners Title Policy - who pays? (insurance, real estate, financing, paying)

[sphereatmo]

Hello,

I have known that Seller normally pays for the Owners Title Policy. However, my builder's financing stated that the seller is not responsible and the buyer has to pay for it. Can the builder's mortgage financing (same as seller) ask the buyer to pay for Owner's title policy? I do not want to pay for this and would like to know what can I negotiate here.

Thanks

[annerk]

I have never heard of a seller paying for an owners title policy. Of course anything is negotiable.

[Bill Keegan]

Originally Posted by sphereatmo

Hello,

I have known that Seller normally pays for the Owners Title Policy. However, my builder's financing stated that the seller is not responsible and the buyer has to pay for it. Can the builder's mortgage financing (same as seller) ask the buyer to pay for Owner's title policy? I do not want to pay for this and would like to know what can I negotiate here.

Thanks

I think this is one of those things about real estate transactions that is different in different places. Here in NJ, it's almost always (unless negotiated differently) the responsibility of the buyer to order & pay for their own title search & title insurance policy. Most of the time, it's aranged by the buyers attorney.

[homesweetazhome]

In AZ it is a negotiable item. Usually, the buyer pays.