Title Insurance Costs in Home Purchases
Posted by Tracy Jones on Tuesday, February 18th, 2014 at 12:31pm.
Title insurance is an essential element in purchasing a home. Home buyers make a substantial emotional and financial investment in their home. Even the most careful and savvy purchasers can fall victim to challenges of their home ownership. Examples include alleged forgeries of documents, relatives of previous owners filing claims of ownership, and even undiscovered easements. Title insurance is a home owner’s protection against such scenarios.
Most items in a purchase are negotiable and title insurance is no exception. It has a predictable cost which is determined by the State and published. One only needs to determine the purchase price and look on the Title Insurance chart to determine the cost. For instance, a $200,000 purchase will cost $1075 for title insurance. Buyers commonly pay for title insurance since they are insuring their purchase but it is negotiable. When asking sellers to pay for title insurance, you have to remember that sellers own a calculator too. They will simply deduct the cost of the title insurance from the offer to obtain the true offer. This insurance will defend the owners rights to their home and property.
If you want more information on title insurance, contact North American Title at 941-378-4279. For more information on real estate in Venice Florida and the surrounding areas, visit http://gulfshoresrealty.com/ or call 941-488-6644.
