IF - Excel formula to compute real estate title insurance.

J

johnnybob

New Member
Joined
Jan 12, 2011
Messages
6
<TABLE border=0 cellSpacing=0 cellPadding=6 width="100%"><TBODY><TR><TD style="BORDER-BOTTOM: 1px inset; BORDER-LEFT: 1px inset; BORDER-TOP: 1px inset; BORDER-RIGHT: 1px inset" class=alt2>Originally Posted by Cloverken
=if(a1<=150000,a1*0.00661,if(a1<=250000,(a1-150000)*0.00518+991.5,if(a1<=500000,(a1-250000)*0.00403+1509.5,if(a1<=10000000,(a1-500000)*0.00316+2517,if(a1>10000000,(a1-10000000)*0.00259+32537)))))
</TD></TR></TBODY></TABLE>
This formula you provided works perfectly, however, the title company wants to reflect an amount if the seller has lived in the home for 10 years or less. A discount prevails called a “Title Reissue Discount”.
<?xml:namespace prefix = o /><o:p></o:p>
The discount table is as follows:
<TABLE style="MARGIN: auto auto auto 4.65pt; WIDTH: 163.95pt; BORDER-COLLAPSE: collapse" class=MsoNormalTable border=0 cellSpacing=0 cellPadding=0 width=219><TBODY><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap><o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap><o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="0">$ - <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="4.0250000000000004">$ 4.025 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="150000">$ 150,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="3.15">$ 3.15 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="250000">$ 250,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="2.45">$ 2.45 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="500000">$ 500,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="1.925">$ 1.93 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="10000000">$10,000,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="1.575">$ 1.58 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap><o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap><o:p></o:p>
</TD></TR><TR style="HEIGHT: 12.95pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="200000">$ 200,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.95pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="761.25" x:fmla="=SUMPRODUCT((A8>A2:A6)*(A8-A2:A6)*(B2:B6-B1:B5))/1000">$ 761.25 <o:p></o:p>
</TD></TR></TBODY></TABLE>
<o:p></o:p>
The formula I used is =SUMPRODUCT((A8>A2:A6)*(A8-A2:A6)*(B2:B6-B1:B5))/1000 and or =if(a1<=150000,a1*0.00661,if(a1<=250000,(a1-150000)*0.00518+991.5,if(a1<=500000,(a1-250000)*0.00403+1509.5,if(a1<=10000000,(a1-500000)*0.00316+2517,if(a1>10000000,(a1-10000000)*0.00259+32537)))))<o:p></o:p>
<o:p></o:p>
However, the original table (standard) you all provided is based on this table below:
<o:p></o:p>
<TABLE style="MARGIN: auto auto auto 4.65pt; WIDTH: 163.95pt; BORDER-COLLAPSE: collapse" class=MsoNormalTable border=0 cellSpacing=0 cellPadding=0 width=219><TBODY><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap>$ - <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="6.61">$ 6.61 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="150000">$ 150,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="5.18">$ 5.18 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="250000">$ 250,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="4.03">$ 4.03 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="500000">$ 500,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="3.16">$ 3.16 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="10000000">$10,000,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="2.59">$ 2.59 <o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap><o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap><o:p></o:p>
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap x:num="200000">Total Premium
$ 200,000.00 <o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap x:num="1250.5">$ 1,250.50
</TD></TR><TR style="HEIGHT: 13.1pt"><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 89.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=119 noWrap><o:p></o:p>
</TD><TD style="BORDER-BOTTOM: rgb(224,223,227); BORDER-LEFT: rgb(224,223,227); PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 74.55pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; BORDER-TOP: rgb(224,223,227); BORDER-RIGHT: rgb(224,223,227); PADDING-TOP: 0in" vAlign=bottom width=99 noWrap><o:p></o:p>
</TD></TR></TBODY></TABLE>
Same formula as above, however I must now integrate this ten year rule some how some way.
<o:p></o:p>
For an example if the home sells for $200,000.00, however the seller paid title insurance for $150,000 5 years previously, therefore the first $150,000.00 premium rate is @ $4.025 (from the 10 year or less rate above) and the next $50,000.00 premium rate is @ $5.18 from the standard rate.
<o:p></o:p>
Some title companies provide the regular rate and in a separate cell show a discount total.
<o:p></o:p>
Example a home selling for $ 200,000 the premium is $1,250.50 and the discount (ten year rule) net is $1121.75 or $128.75 discount. I prefer showing a discount if applicable.

As always your help is appreciated.

johnnybob
 

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