La Jolla Real Estate, Del Mar Homes, Rancho Santa Fe, Carmel Valley, University City and Downtown San Diego real estate,
homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Sign Up For Email Updates
(includes all areas in San Diego County)





 DEC. 04, 2006
Inexperienced Home Buyers Pay More for Title Insurance
Insurance regulators have sent out alerts to consumers warning them that some title insurance companies may be utilizing two types of rates. One set of rates is for knowledgeable, experienced buyers and the other for less knowledgeable, inexperienced buyers.


Ten agencies have been accused of charging some customers sometimes as much as three times more for the same policy purchased by another buyer. Furthermore, regulators have charged two companies of offering hidden rebates and or kickbacks to companies or individuals that sent them referrals. The accused companies can stand to face fines up to $100,000, and even the revoking of their state licenses if they are indeed found guilty.

Title agencies were investigated by seven individual teams. The state took action last month after insurance records found that more sophisticated consumers knew how to properly negotiate to get the best prices.

Back to Real Estate News