What are the benefits of title insurance?
An example of an AI chatbot conversation about the benefits of title insurance.
What are the benefits of title insurance?
Title insurance protects property buyers and lenders from financial loss due to defects in a title. It ensures that the title is clear and free of liens or disputes.
Can you give me some specific examples of what it covers?
Sure! Title insurance covers issues like unpaid taxes, undisclosed heirs, fraud, and errors in public records that could affect ownership.
How much does title insurance typically cost?
The cost of title insurance varies by state and the property's value, but it usually ranges from 0.5% to 1% of the purchase price.
Is title insurance required for all home purchases?
While not always required, most lenders will require title insurance to protect their investment, and it's highly recommended for buyers.
What happens if I don't get title insurance?
Without title insurance, you risk facing legal issues or financial loss if a title defect arises after the purchase.
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