Title Quote
What’s Included in a Title Quote
Quick Answer
A quote covers title work only, split between the two sides. Commissions, payoffs, and prorations belong on a net sheet, not here.
Three groups make up the estimate, in this order.
Title Premiums
The cost of the insurance policies themselves.
Owner’s Policy is calculated from the Sales Price.
Lender’s Policy is calculated from the Loan Amount, and appears only when one is entered.
Simultaneous Issue Discount appears as a negative line when both policies are issued together. It is applied automatically from the rate schedule, not entered.
Reissue discounts appear when the prior-policy answer qualifies. Eligibility and amount both come from the rate schedule for that jurisdiction.
A discount line can carry the note Estimate based on industry-typical defaults, confirm with your carrier. That marks a figure taken from a default rather than a verified rate, and it is worth confirming before the number reaches a client.
Endorsements
Endorsements appear based on the transaction, property type, loan, and your agency’s configured rules. A condominium and a vacant parcel produce different endorsement lines from the same sale price.
They are listed by ALTA form number and name, for example ALTA 17-06 Access and Entry. An endorsement attaching to both policies shows a figure in both columns.
Recording Fees
Recording fees come from the fee schedule for the resolved jurisdiction. Typical lines are Deed Recording, Mortgage Recording, and Release/Reconveyance Recording, each assigned to the party whose document is being recorded.
Who pays what
Each line is assigned to Buyer Pays or Seller Pays. Subtotals close each group and a Grand Total closes the table.
Assignment starts from your agency’s configured default for the jurisdiction. That default is not a rule. The Who pays for Owner’s Policy field exists so the quote can match the purchase agreement in front of you. Changing it moves lines between columns without changing the total.
What is not in a quote
Commissions, payoffs, prorations, home warranties, and seller concessions are net sheet inputs and do not appear here.
Final charges can change as transaction details, underwriting requirements, lender instructions, and closing figures are finalized. See Why this is an estimate.
