According to the KREC Real Estate Purchase Offer or Contract, who is responsible for paying for the opinion of title?

In a typical real estate transaction, the responsibility for paying for the opinion of title usually falls on the buyer. The opinion of title is a vital part of the closing process as it provides a legal assurance that the property being purchased has a clear title, free from liens or disputes.

This obligation is typically outlined in the terms established in the Real Estate Purchase Offer or Contract. Buyers are generally the ones seeking the opinion of title to ensure they are making a secure and informed purchase. It protects their interests as they are the ones investing in the property.

In some cases, the seller may pay for specific closing costs, but the expectation for the title opinion is often placed on the buyer. Understanding this aspect is crucial for both parties to ensure clarity in the transaction process and to avoid future disputes over who is responsible for various costs.