Title Services
Now Offering Title Services for a Seamless Closing Experience
SaveEstate Flat Fee Brokerage is proud to expand our services to include professional title services through its sister company, SaveEstate Title Services, Inc. Whether you're buying or selling, SaveEstate Title Services, Inc. ensures a smooth, secure, and efficient closing process—saving you time, money, and hassle. Experience the convenience of having all your real estate needs handled under one roof.
Fill out the form below for an estimate of your closing costs
Home sale
Closing Fees
Misc. Costs
What is Title Insurance?
Title insurance protects both property owners and lenders by ensuring that the title to a piece of real estate is clear and free of legal issues. Before issuing a policy, the title company conducts a thorough title search to verify the property's legal ownership and uncover any existing problems—such as unpaid taxes, liens, judgments, outstanding mortgages, easements, or restrictions—that could impact the buyer’s rights.
A property survey may also be required to confirm the boundaries of the land, ensure the home is within those boundaries, and identify any encroachments or easements. Once the title is confirmed to be valid and clear, the title company issues a title insurance policy.
There are two primary types:
Owner’s Title Insurance – Protects the property owner against future title claims or legal disputes.
Lender’s Title Insurance – Protects the mortgage lender's interest in the property.
In cash transactions, the seller typically pays more toward closing costs—covering approximately half of the total fees based on the purchase price—since there is no lender involved.
Know Your Rights: In Illinois, consumers have the legal right to choose their title insurance provider. This right is protected under the Illinois Title Insurance Act (215 ILCS 155/18.1) and supporting regulations (50 Illinois Administrative Code, Section 8100.2406). Any effort to limit this choice may violate the law and result in disciplinary action by the Illinois Department of Financial and Professional Regulation.
Ask Us About Our Title Services Rebate!
Maximize your savings—especially if you're selling For Sale By Owner (FSBO).
At SaveEstate Flat Fee Brokerage, we specialize in FSBO and flat fee transactions. When you choose our title services, you gain access to a suite of benefits designed to streamline your closing process and protect your investment:
Free contracts disclosures, and addendums
Expert contract negotiation support
Mobile closings & pre-signing of documents for your convenience
And more
Our title services are underwritten by First American Title Insurance Company —the largest and most trusted title insurance provider in the U.S.
Title Fees Explained
Title & Closing Fees
Title Policy Update Fee – A standard charge for updating the title post-closing before issuing the final policy $200
Title Processing Fee – Covers administrative work by the title company, including coordinating closing details.Escrow, Survey, Notary, and Deed Prep Fees – Often included as part of title company services related to closing. $200
Illinois Agent Registration Fee – Required annually for title insurance agents under Illinois law. $3
Wire Processing Fee – Reflects the cost of sending or receiving wire transfers securely. $50
Closing Protection Letter (CPL) – A CPL protects parties in the transaction from misconduct or errors by the title company handling the closing. $50
Survey Requirement
A survey provides visible proof of property boundaries, structures, easements, and measurements.
Must be dated within 6 months of closing. If an older survey exists, the buyer may be asked to accept it in writing. $525
Recording & Transfer Taxes
State Transfer Tax: $1.00 per $1,000 of the sale price
County Transfer Tax: $0.50 per $500 of the sale price
Property Tax Prorations
In Illinois, property taxes are paid in arrears (after the year ends). The seller is responsible for taxes up to the date of closing, and the buyer receives a credit at closing. Standard Proration
Rates:105% in most suburbs 110% in Chicago (due to anticipated increases)
Example Tax Proration Calculation:
Last year’s total taxes: $5,000
Closing Date: May 17
First installment already paid; second not yet due
Proration based on 137 days from Jan 1 to May 17
Calculation:
$5,000 ÷ 365 = $13.698 per day
$13.698 × 137 = $1,876.62 (partial year proration)
$2,500 credit for unpaid installment
Total: $1,876.62 + $2,500 = $4,376.62
At 105% proration: $4,376.62 × 1.05 = $4,595.45
Seller owes $4,595.45 in tax credits to buyer at closing.
SaveEstate Flat Fee Brokerage
8770 W Bryn Mawr Ave., Suite #1300
Chicago, IL 60631
[email protected]
(833)282-5478
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