Raleigh Area Real Estate Buyers

5 Things to Understand About Title Insurance

1. It protects your ownership right to your home both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as a mistake in the spelling of a person's name or an inaccurate description of the property.

2. It is a one-time cost usually based on the price of the property.

3. It is usually paid for by the sellers.

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.

5. Discounts on premiums are sometimes available if the home has been bought within 2 to 3 years of the most recent sale. Ask the title company if this discount is available.