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 mistake in the spelling of a person’s name or an inaccurate description of the property.
2. It’s a one-time cost usually based on the price of the property.
3. It’s 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 only a few years since not as much work is required to check the title. Ask the title company if this discount is available.

Inkster Price: $49900 Very clean, 3 bedroom brick home with large master bedroom and detailed work put into renovating the kitchen and bathroom. The kitchen is your own private bistro with new cabinetry, stainless steel back splash and appliances! Living room has refinished hardwood flooring. New furnace (2005) A/C (2005) Windows (2004). Large fenced backyard.

Detroit Price: $21900 Beautiful Colonial in South-West! Refinished Hardwood, loads of natural charm! Some painting and other updates including front porch! Buyer to sign ACR with city of Detroit prior to closing.