Do most investors purchase Title Insurance if they are planning on flipping properties within a 3 month time frame? Approximately , what would this cost if it's needed? Thanks.
If yu are purchasing properties with cash you are not required to purchase owner's coverage. But not to would be a fool's move. You never know what could happen. If you purchase property with a mtg loan, you would most likely be required to purchase lender's coverage. Title insurance varies from state to state. Owner's coverage is based on the sales price and lender's coverage is based on the loan amount
If yu are purchasing properties with cash you are not required to purchase owner's coverage. But not to would be a fool's move. You never know what could happen. If you purchase property with a mtg loan, you would most likely be required to purchase lender's coverage. Title insurance varies from state to state. Owner's coverage is based on the sales price and lender's coverage is based on the loan amount
Lori
[addsig]
Lori,
Thank you for the clarification. Does anyone in NJ have a ballpark number for how much title insurance would cost on a 200K house?