What is title insurance and why do I need it?
An example of an AI chatbot conversation about title insurance and its importance.
What is title insurance and why do I need it?
Title insurance is a type of insurance that protects against financial loss from defects in a title to real property. It ensures that the property you are buying is free from liens, disputes, or other issues that could affect your ownership.
What kind of issues does title insurance cover?
Title insurance typically covers issues like unpaid taxes, liens, fraud, and errors in public records. It protects you from claims against your property that may arise after the purchase.
Is title insurance required when buying a home?
While title insurance is not legally required, most lenders will require it as a condition of the mortgage. It's a good idea to have it for your own protection as well.
How much does title insurance cost?
The cost of title insurance can vary based on the property's value and location, but it typically ranges from a few hundred to a couple of thousand dollars.
Can I shop around for title insurance rates?
Yes, you can shop around for title insurance rates. It's advisable to compare quotes from different title companies to find the best deal.
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