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Reply to "really high title insurance quote"
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[quote=Anonymous]DC regulates title insurance rates, so all of the companies should be the same. $5K sounds about right for $700K purchase. You might be able to get a discount if you ask. Also, the transfer and recordation tax are 1.45% to the City for each. Usually the buyer and seller each pay one, but the terms of the contract dictate otherwise, sometimes the buyer gets stuck with both. I hope your agent read the contract. Again, these are fees payable to the City, not the title company. [/quote]
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