How Much Title Insurance Is Enough
When buying a distressed property or from a distressed seller should title insurance cover my purchase price or the fair market value price or somewhere in between?
When buying a distressed property or from a distressed seller should title insurance cover my purchase price or the fair market value price or somewhere in between?
you can make it what ever you want to. for example i bought my house for 129,000 but my coverage covers anything up to 180,000. so the answer is that it covers whatever you want it to cover. i chose this number because i think this would be safe even in 10 years from now becasue thats what i expect it will be worth with inflation. hope this helps, Ryan
Quote:
On 2004-07-08 18:22, groverm wrote:
When buying a distressed property or from a distressed seller should title insurance cover my purchase price or the fair market value price or somewhere in between?
***Title insurance is quoted by the amount of the sales price. A lender's policy is quoted on the loan amount***
My atty strongly suggests getting an owners policy in addition to a lenders. Has that been others' experience?