Home Buying Insight Into Title Insurance

Friday, March 15, 2013

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Title insurance is a typical closing fee for the purchase of a property, building, or land parcel.

There are two types of policies: one is required if there is a mortgage and the other is optional. Both help ensure that there will be few, if any, title problems with the transfer of property.

While there are some parts of title insurance that do not change (such as it being due upon closing and the fact that it is a one-time premium payment instead of a monthly one), and there are many aspects that have a wide variance of differentiation.

Every state in America regulates the cost of title insurance, even if the regulation is by not regulating it. So there are many different costs of title insurance from area to area. Another aspect that makes the insurance vary in cost is for the market competition in the region. You’re also going to pay more depending on the property value and the risk taken by an insuring party.

Read more HERE

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