Five Things to Understand about Title Insurance
It protects your ownership right to your home both from fraudulent claims against your ownership and from mistakes made in earlier sales, such a mistake in the spelling of a person’s name or an inaccurate description of the property.
It’s a one-time cost usually based on the price of the property.
It’s usually paid for by the sellers.
There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.
Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright / All rights reserved.
Call, text or email me today to discuss your real estate needs! It is my goal to make your real estate transaction a professional and pleasant experience.
Please enter your requirements below for a complete report on properties that meet your needs. Please include your valid e-mail address and phone number.