Who Pays for Title Insurance and Who Picks the Closing Attorney in Florida?

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In this tutorial video, we'll talk about who customarily pays for title insurance and who gets to pick the closing attorney in real estate sales transactions in Florida.

You'll learn that whether the buyer or the seller is responsible for this depends on where the transaction takes place, and of course is negotiable.

However, you'll note in the standard Realtor purchase contract in Florida that one of the default checkbox options for the section pertaining to title insurance says Miami-Dade / Broward County provision. This section essentially means that if you check this, then you will be going by the conventions and customs of Miami-Dade and Broward counties where the buyer typically is responsible for paying for title insurance, and thus also being able to choose the closing attorney.

However, in other counties in Florida it may be customary for the seller to pay for title insurance and to choose the closing attorney. And of course, who pays and who chooses can always be negotiated based on the individual deal.

For example, we've seen deals where a seller in Miami-Dade County insisted on paying for title insurance and thus choosing the closing attorney (who's often also the authorized title agent) because it's someone they've worked with before who they are confident will smoothly get the deal done.

Lastly, we will say that even though it's no fun to have to pay for title insurance, it's often quite advantageous to be able to pick the closing attorney. That's because title insurance is a rather fragmented industry with many small players. As a result, there is often a lack of trust, and it can be scary working with a closing attorney (who's often the escrow agent and also the authorized title agent) you don't know. After all, wire fraud is a very real thing to be aware of.

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Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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