Virginia Title Insurance Calculator

How Virginia title insurance is priced

Virginia closings are handled by a settlement agent, and the Virginia Real Estate Settlement Agents Act requires every settlement to be conducted by a licensed agent or attorney. The biggest line items are taxes, not title: the seller pays grantor tax on the deed, the buyer pays state and local recordation tax on both the deed and the deed of trust, and Northern Virginia sellers also pay a regional congestion relief fee. The buyer customarily chooses and pays for the owner’s title policy.

Virginia premiums are charged per $1,000 of coverage on a declining scale: $4.31 per $1,000 up to $250,000, $4.08 from $250,000 to $500,000 and $3.75 from $500,000 to $1 million, with a $300 minimum. When the lender’s policy is issued with the owner’s policy it costs a flat $200 up to the owner’s amount. A closing protection letter adds $50.