Sorry, You Gotta Get Title Insurance
And after you hear what it’s for you’ll want it.
That buyer is actually saying I don’t want to pay for title insurance. The bank won’t let you get away with that though. You actually get to pay for both your policy – known as an owner’s policy – and theirs – lender’s policy. You get title insurance for the money you put down plus the money the bank puts down.
What Is Title Insurance?
Title insurance is an agreement to indemnify against damage or loss – blah blah blah. It protects the house against someone else coming in and saying they own it.
When you hear “closing costs,” think title insurance. It’s one of the fees included.
In San Mateo Who Pays Title Insurance?
It’s standard for the buyer to pay their own closing costs unless other arrangements are negotiated in the contract.
Looking to buy a home in San Mateo?
call me ~ text me ~ email me
I’m here to help.
Vicki Moore, Realtor
Alain Pinel Realtors
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