WHAT IS title insurance?

Valid title is a form of ownership that is clear from third parties having an interest in the property. Title Insurance acts as a protector to homeowners and mortgage lenders by insuring the title of the house.

There are two types of title insurance policies: Owner’s and Lender’s. An Owner’s Title Policy protects a buyer from legal issues or other defects with the title of the property. A Lender’s Title Policy protects the lender from title defects that may affect the lender’s loan.

do you need an owner’s title policy for a refinance?

No.

How long does an owner’s title policy last?

The coverage will last as long as the buyer and the buyer’s heirs have an interest in the property.

how much does title insurance cost?

The cost of title insurance depends is tied to the value of the property. It is a one time payment that remains in place as long as the buyer and the buyer’s heirs have an interest in the property.

What is a closing?

In easy terms, “the cash for keys”. The closing is the official purchase of the property.

what happens at a closing?

The documents are signed and there is an exchange of money for the title and keys of the property.