Here's a hypothetical Silicon Title transaction:
Andy and Kaily have decided to sell their house in Vero Beach, Florida. It is a five bedroom, three bath with a three car garage. Property values have been going way up lately, so they've made $200,000 on the purchase in the time that they've owned the house having bought it for $300,000 and having sold it for $500,000.
Andy and Kaily aren't really sure what Title Insurance is, but they were told by their real estate agent that in Indian River County, the seller usually picks the title company and pays for the title policy.
Luckily for Andy and Kaily, they received a phone call from the good folks over at Silicon Title and were told that they would receive a Butler Rebate if Silicon Title provided TItle insurance. Here's how the math worked out:
House Sale Price: $500,000
(Andy and Kaily sold their house for this much.)
Full Premium: $2,575
(This is how much the State of Florida says title agencies should charge Andy and Kaily.)
Average Agency Premium: $1,802.50
(Most agencies don't tell Andy & Kaily about the Butler Rebate, so they keep literally every dollar the State of Florida says they can charge.)
Silicon Title Rebate: $378.52
(Silicon Title rebates 21% of our share of premium to Andy and Kaily as a Butler Rebate because our technology rocks.)