What is title insurance and why do I need it?
An example of an AI chatbot conversation about understanding title insurance.
What is title insurance and why do I need it?
Title insurance protects you from financial loss due to defects in the title of your property. It's essential for safeguarding your investment.
What kind of defects does title insurance cover?
It covers issues like unpaid taxes, liens, or claims against the property that were not discovered during the title search.
How much does title insurance typically cost?
The cost varies by state and property value, but it usually ranges from 0.5% to 1% of the purchase price.
Is title insurance a one-time fee?
Yes, title insurance is typically a one-time premium paid at closing, and it lasts for as long as you own the property.
Do I need title insurance if I'm paying cash for a home?
Yes, even if you're paying cash, title insurance is recommended to protect against potential title issues.
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