Branch Conner Realty

What is Title Insurance?

When you buy a home, you'll need to purchase title insurance! Title insurance protects you from any title defects that may be discovered after you close on the property. This could include things like liens, easements, or other encumbrances that could affect your ownership of the home.

The cost of title insurance varies depending on a number of factors, including the price of the home, the location of the property, and the title company you use. However, in general, you can expect to pay between 0.5% and 1% of the purchase price for title insurance.

For example, if you buy a home for $300,000, you could expect to pay between $1,500 and $3,000 for title insurance. The cost of title insurance is usually paid at closing, so it will be rolled into your overall closing costs.

There are two types of title insurance: lender's title insurance and owner's title insurance. The lender’s title insurance protects the lender in case there are any title defects that come to light after the loan is closed. The owner’s title insurance protects you, the buyer, in case there are any title defects that affect your ownership of the home.

Title insurance is a small price to pay for peace of mind knowing that your ownership of your home is protected. By following these tips, you can get the best price on title insurance and protect yourself from any future title defects!

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