As we said in March in the post Title Insurance Vital to Protecting Homebuyers, Fox Business agreed today – every purchaser should purchase owner’s title insurance when buying a home. The additional one-time cost of obtaining important protection for the homeowner, rather than just paying for required lender’s coverage, is relatively small compared to other closing costs and, especially, compared to the potential loss and expense a homeowner may incur without owner’s coverage. Be sure to ask your real estate settlement attorney or agent about available discounts for reissuing title insurance on property covered by a prior policy and for simultaneous owner’s and loan policies.
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