Title Commitment Fee Estimate

[Maxwell Lee]

Greetings! I am in the process of completing my first purchase in Chicago and was wondering if these numbers look fairly standard for title co fees. This doesn't include all the loan fees that will be coming later. Thanks in advance!!

[Vincent Incopero]

@Maxwell Lee These fees are standard, reasonable and customary. Looks like you are purchasing a 120k condo.  Ask your attorney to remove the Residential Inflation Enhancement endorsement and you are good to go! 

[Maxwell Lee]

@Vincent Incopero Thanks for your input!! Yes, 120k condo. What is the Res Inflation Enhancement?

[Vincent Incopero]

An endorsement that increases the face amount of the policy of Owner's Title insurance up to 20% (144k) during your term of ownership. IMHO, its a waste of $175. 

[Maxwell Lee]

Ah gotcha! Right cause the property should increase in value over time. Thanks again!