Title Insurance Cost in New York


New York Title Insurance Closing Costs for Detached Homes

Several major differences will arise when preparing to issue a NY title insurance policy compared to many other states. The following information is meant to give you a basic understanding and background of the general costs that go hand and hand with closing a transaction in New York for a townhouse or single-family property. The estimates listed below are for explanatory purposes only and should not be interpreted as an actual quote. For more detailed quotes please seek out our GFE Quote Calculator or speak directly with your counsel.

Terms Specific to the NY Title Insurance Closing

NY Title Fees

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Who Pays for Title Insurance in NY & How Much Does It Cost?

During a real estate transaction in New York, the home buyer is responsible for paying the title fees. While lenders are required to obtain a title policy for each transaction, they pass the title insurance premium along to the buyer. As a home buyer, purchasing your title policy is optional in the NY State. While purchasing a policy is optional for NY home buyers, it is highly recommended as any title defects can cost you money or call your ownership of the property into question. When you consider that resolving title defects can be very expensive, we think that the money you pay for your title insurance premium will be well worth the cost.

Because the title insurance cost varies with each transaction, we can’t tell you how much your title fees will be on our website. The sale price, type of home, the area where it is located, and other factors can affect these fees. If you would like to know more about the cost of title insurance in NY, the best thing to do is call World Wide Land Transfer today and give us more information about your specific real estate transaction. You can also try out our title fee and closing cost calculator to get a better idea of what the costs will be for your transaction.

Are Title Insurance Fees the Same for the Owner & Lender?

While a homeowner’s title insurance premium in NY is based on the purchase price of the property, the cost of a lender’s policy is based on the loan amount. Because of this, the cost of title insurance is usually different for lenders and homeowners. Whether you are a homeowner or a lender, the best way to find out about the cost of title insurance in New York will be by contacting the experts at World Wide Land Transfer. When you speak to a member of our team, we can give you specific information about your title insurance premium no matter which side of the transaction you are on.

Contact Us Today to Learn More about Title Insurance Rates in New York

Are you a homeowner or lender who is wondering about the cost of title insurance in NY? The team at World Wide Land Transfer is waiting to hear from you. Since 2003, we have provided a range of title services to people in the Empire State and all around the country, so let us know how we can help you. Our dedication and attention to detail set us apart from our competitors, and we will provide the same amazing customer service no matter how big or small your transaction may be. Call us today if you need to find out more about title insurance rates in PA or if you need information about your title insurance premium in any other state.


Townhouses and Single Family Homes


Broker: Typically 5%-6%

Own Attorney: TBD

NYC Transfer Tax:


Up to $500,000 = 1%

$500,000+ = 1.425%


Up to $500,000 = 1.425%

$500,000+ = 2.625%

Admin. Fee:

Non-Deed Transfers (i.e., Co-ops) = $50

Residential Deed Transfers= approximately $75

Commercial Deed Transfers = approximately $165

NY State Transfer Tax: $4 per $1,000 of price

NYS Equalization Fee: $75

Miscellaneous Title Fees: $200-$500

Pick-up / Payoff Fee to Title Closer: $100-$300



Buyer’s Attorney: TBD

Bank Fees: $750

Application Fee: $350

Processing Fee: $330

Appraisal Fee: $300-$1,500 (depending on sales price)

Credit Report Fee: $10.10 single/$15.20 joint

Bank Attorney: $650-$750 or higher at times

Tax Escrows: 2 to 6 months

Recording Fees: $250-$750

NY Title Insurance: Approx. $450 per $100,000 of sales price under 1M, +15% on $1M or more

Mortgage NY Title Insurance: Approx. $130 per $100,000 of mortgage amount

Municipal Search: $350-$500

Mortgage Tax – NYC (paid by borrower):

1-3 Family Home or Condo:

If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount

Mortgage Tax – Nassau & Suffolk (paid by borrower):

1-3 Family Home or Condo: 0.80% of loan amount

Peconic Bay Tax: Tax applies to properties in the townships of Southampton, East Hampton, Riverhead, Southold and Shelter Island.

a. Exclusions:

(i) Purchase Price less than $250,000 on improved property; and (ii) Purchase Price less than $100000 on un-improved property

b. Residential:

1-3 Family Dwelling less than $1,000,000 and all other properties = 2.40%

c. Residential:

1-3 Family Dwelling $1,000,000+ = 3.40%

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