Florida sets title premiums by state-promulgated formula, but who pays them is pure county custom.
Unlike most states, Florida's title premium is set by state rule, so the base premium is identical at every title company: $5.75 per $1,000 of the purchase price for the first $100,000 of value, then $5.00 per $1,000 from $100,000 to $1 million (lower brackets apply above that). What varies between agents is the closing/settlement fee and ancillary charges — worth shopping even though the premium itself is fixed.
Payment is negotiable in the contract, but custom is strong. In most Florida counties the seller pays for the owner's policy and picks the title agent. In Miami-Dade, Broward, Sarasota, and several other counties, custom runs buyer-pays. Our cost-to-sell page maps the customs and the math.
A financed purchase involves two policies: the lender's policy (required by the mortgage lender, protects only the loan) and the owner's policy (optional but strongly advisable, protects the buyer's equity for as long as they own the home). When both are issued simultaneously, the second policy is issued at a steep 'simultaneous issue' rate.
Talk to Jon or Brittany directly. We'll answer specific questions or connect you with the right Momentum agent.
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