Title search/insurance- what is the difference?
I'm looking at closing on my first rental properties and am pretty confused on the title search/insurance process. My closing estimate includes:
Title- Lender's Title Policy- $372
Title- Settlement Fee- $680
Title- Title endorsement fee- $87
Total is $1139 for title services!
This is in NY state (not NYC) and on a $~60k property with ~$45k loan. This seems pretty outrageous. So I've gotten quotes from title insurance companies for about $500 or so- does this include search, insurance, and everything I'll need for closing?