How much is title insurance on a $2mil Commercial MF?

[Jordan Archer]

Hi BP,

This is a question for any investors who are familiar with the closing costs associated with commercial multifamily purchases; that or title attorneys.

I would like to know what a ballpark figure would be for title insurance on a $1mil , $2mil and $5mil commercial multifamily property? I understand that it will probably depend on a lot of other factors that I'm leaving out of this question, but for hard and fast calculations, what do you think?

As a residential agent, I know for my area the formula is $500 per $100k purchase price.

Thank you!