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Updated over 5 years ago on . Most recent reply

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Benjamin Spaulding
  • Batavia, NY
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Ways to save on legal fees associated with home purchases?

Benjamin Spaulding
  • Batavia, NY
Posted

I am in the process of purchasing my first house. When I was hit with almost $1000 in fees between lawyers fees and title insurance I began to wonder if there was a way I could save on these fees in the future? I plan to purchase another property in the next 6 months and am curious to know if anyone has any suggestions on how I might be able to save on my next transaction. 

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Steve Vaughan:
Originally posted by @Benjamin Spaulding:

I am in the process of purchasing my first house. When I was hit with almost $1000 in fees between lawyers fees and title insurance I began to wonder if there was a way I could save on these fees in the future? I plan to purchase another property in the next 6 months and am curious to know if anyone has any suggestions on how I might be able to save on my next transaction. 

In WA it's customary for the seller to pay for title insurance.  Ask your next seller to cover it. You are already paying lemders insurance as the borrower. 

Seller-paid title insurance is one of many reasons I like to sell initially with an owner contract.  Saves me an average of $1200 in title insurance alone. 

good point Steve it certainly is customary on the West coast for seller to pay for title insurance. !!!

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