FLORIDA "PROMULGATED RATES" WITH REBATE CALCULATION

Net Cost of Title Insurance offered by Budget Title Agency

The chart below shows the "promulgated" (published) title insurance premiums charged by most title agents and attorneys, alongside the "discount," offered as a rebate by Budget Title, which will reduce your net cost of title insurance (the actual amount of your rebate is contingent upon the sale price of your home).

Here?s how to read this chart:

Title insurance premiums are based on sale price or amount of refinance.

The State of Florida?s "promulgated" (published) rates.

Florida law permits a title agent or attorney to give back or "rebate" a portion of the title insurance premium, which this chart identifies as "Agency Share." 30% is paid to the underwriter of the policy. The closing statement will show the amount of premium according to the promulgated (published) rate and, at the agent?s option, an "instant rebate." Subtracting one from the other, results in the net cost of title insurance. At Budget Title, we return 1/3 (33 1/3%) of our entitlement to the party paying for title insurance, and our "retention" or retained fee is 2/3 of our allowable premium share.

 
This chart includes rates for sample purchase prices. Please contact us for an exact quote. Rebates are given to the party paying for title insurance, as 1/3 (33 1/3%) of the Agency Share. Stated another way, savings are 23% of the full promulgated rate.

 

Sale Price Full Premium Agency Share Rebate (1/3) Agency Net Share

200,000 1,075.00 752.50 250.83 501.67

300,000 1,575.00 1102.50 367.50 735.00

350,000 1,825.00 1277.50 425.83 851.67
500,000 2,575.00 1802.50 600.83 1,201.67

750,000 3,825.00 2677.50 892.50 1,785.00

900,000 4,575.00 3,202.50 1,067.50 2,135.00

1,000,000 5,075.00 3,552.50 1,184.16 2,368.34

1,250,000 5,700.00 3,990.00 1,330.00 2,660.00

1,500,000 6,325.00 4,427.50 1,475.83 2,951.67

2,000,000 7,675.00 5,372.50 1,790.83 3,581.67















"Promulgated Rates" calculated as follows: $5.75 per thousand up to 100,000; $5.00 per thousand 100,000 to 1 million; $2.50 per thousand over 1 million.

Regulations allow charging for title searches and closing fees. A lower rate may be charged in some types of transactions, such as refinance and "reissue" policies.

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SAMPLE COST SAVINGS ESTIMATOR

Net Cost of Title Insurance offered by Budget Title Agency 

     Using the following chart, compare our discount title insurance rates with "promulgated" (published) title insurance premiums charged by most title agents and attorneys, and see what you can save. Of course, the party paying for the premium saves, but if the seller saves on closing costs, a buyer can also benefit by negotiating a lower purchase price.

     Here's how to read this chart:

     Title insurance premiums are based on sale price or amount of refinance.

     IN 2000 and 2002, FLORIDA EFFECTIVELY DEREGULATED MOST OF YOUR TITLE INSURANCE AND CLOSING COSTS!!!  A word about the State of Florida's "promulgated" (published) rates: Florida law permits a title agent or attorney to give back or "rebate" a portion of the title insurance premium, which this chart identifies as "Agency Share." 30% is paid to the underwriter of the policy. The closing statement will show the amount of premium according to the promulgated (published) rate and, at the agent's option, an "instant rebate." Subtracting one from the other, results in the net cost of title insurance. At Budget Title, we return 1/3 (33 1/3%) of our entitlement to the party paying for title insurance, and our "retention" or retained fee is 2/3 of our allowable premium share.          

     This chart includes rates for sample purchase prices. Please contact us for an exact quote. Rebates are given to the party paying for title insurance, as 1/3 (33 1/3%) of the Agency Share. * Stated another way, savings are 24% of the full promulgated rate.

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

FULL PREMIUM --"Promulgated Rates" calculated as follows: $5.75 per thousand up to $100,000; $5.00 per thousand $100,000 to $1 million; $2.50 per thousand over $1 million. Regulations allow charging for title searches and closing fees. A lower rate may be charged in some types of transactions, such as refinance and "reissue" policies.

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