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> I paid intermediaries $10k to transfer a house title to me. Took a few weeks and many contracts. I'm pretty sure you didn't pay that for the transfer of the
by tablespoon 5y ago
> I paid intermediaries $10k to transfer a house title to me. Took a few weeks and many contracts.
I'm pretty sure you didn't pay that for the transfer of the house title. Most of that was for other stuff that happened around the same time, like getting a mortgage and having your lender make sure they're not going to be left holding the bag.
https://www.nerdwallet.com/article/mortgages/closing-costs-mortgage-fees-explained https://www.nerdwallet.com/article/mortgages/closing-costs-m...
- silverlake 5y agoTitle insurance for very expensive homes in NYC is around $10k. Closing costs were much much more.
- tablespoon 5y ago> Title insurance for very expensive homes in NYC is around $10k. Closing costs were much much more. That kind of makes sense, though. Isn't that insurance against the possibility that you bought the property from someone who did not actually own it, so basically insuring against a total loss? IIRC, a Torrens title would deal with that possibility, but my understanding is it as a consequence introduces other issues.