What is title insurance?

Title insurance is a form of insurance protection in North Carolina that protects a buyer or lender in the event that there are any legal issues with the title on the property. To put it simply, title insurance guarantees that a buyer or lender will have the right to own or use the property they are purchasing and eliminates the risk of any hidden problems related to title that could cost them money or disrupt their ownership. Title insurance is important because it helps ensure that the transaction is fair and legal for everyone involved. Title insurance is available through title companies who perform a title search on the property before a buyer can purchase it. They search through public records and any other relevant documents to find out if there are any issues with the title of the property. If they find any problems, the title company will work to resolve them before the transaction is completed. The cost of title insurance in North Carolina varies depending on the value of the property. Most residential properties have a base rate of $500 to $700. Lenders often require the buyer to pay for the title insurance at closing as a way to protect themselves from any potential problems with the property. Overall, title insurance is an important form of protection for any buyer or lender who is looking to purchase or lend on a property in North Carolina. It helps ensure that the transaction is legal and that everyone is on the same page when it comes to the property they’re dealing with.

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