What is title insurance?
An example of an AI chatbot conversation about title insurance and its importance in real estate.
What is title insurance?
Title insurance is a type of insurance that protects buyers and lenders from financial loss due to defects in a property's title.
Why do I need title insurance?
You need title insurance to safeguard against potential issues like liens, disputes, or errors in public records that could affect your ownership.
How much does title insurance cost?
The cost of title insurance varies by state and the property's value, but it typically ranges from 0.5% to 1% of the purchase price.
Is title insurance required for a mortgage?
While not always required, most lenders will require title insurance to protect their investment in the property.
Can I purchase title insurance after closing?
It's best to purchase title insurance before closing, but some policies may allow for post-closing purchases under certain conditions.
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