According to the 1-4 Family Residential Agreement, who primarily negotiates payment for the owner's title policy?

In the context of the 1-4 Family Residential Agreement, both parties negotiate the payment for the owner's title policy. This means that during the transaction process, there is an opportunity for the buyer and seller to come together and discuss who will bear the cost of the title policy. Typically, these negotiations are influenced by local customs, the specific terms of the sales agreement, and the parties' preferences.

The owner’s title policy is an important aspect of a real estate transaction, as it protects the buyer against certain title issues that may arise after the purchase of the property. Therefore, involving both the buyer and the seller in the negotiation allows for a more equitable discussion on how these costs should be allocated, ensuring that both parties have clarity and agreement on financial responsibilities related to title insurance. This collaborative approach helps to foster a smoother transaction process.