When you are buying your new home, your lawyer will talk to you about a title insurance policy. While you may be tempted to write this off as an additional expense you do not want to have to pay for, this type of insurance is important so you can protect yourself during the home buying process. It’s important to know what questions to ask, so you understand the buying process.
How Much Coverage Do I Have To Have?
This is one question that every homebuyer needs to ask before purchasing a title insurance policy in Blissfield, MI. Most policies protect against problems involving fraud, spousal claims, forgery, and undisclosed heirs. If you want additional coverage for other problems, you will need to pay additional costs. Your lawyer is the best person to help you decide how much coverage is the right amount for you.
Who Will Pay For The Insurance?
It will depend on who has to pay for the title insurance policy when you are buying a home, and factors such as where the home is will affect who has to pay for it. If the owner and the lender policies are bought from the same insurance agency, you may be able to get a discount on the overall cost. Additionally, the buyer can haggle over the cost, as most things are negotiable when buying and selling a home.
Many people do not understand the importance of a title insurance policy, and may never realize it’s necessary until it’s too late and there has been a major problem with the sale of the home. To ensure you get the insurance you need, browse our website. We are happy to talk to you about your needs and make sure that you’re protected during this exciting time in your life.