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If you want to move forward with buying a piece of property, it might be smart for you to do a bit of research on title insurance rates before you commit to any deal. This kind of policy is purchased for the purpose of protecting investors and mortgage lenders against property loss, forged deeds, previously undisclosed heirs, and a whole host of other problems that could arise. Unfortunately, some people trying to pass off properties as their own to sell are actually being dishonest. It happens more often that you'd care to imagine. Title insurance rates are based on the value of the property being insured. Typically, the expense for the policy is tacked onto the closing costs, and it only equates to .5% or less of the asking price for the house itself. Once deal is accepted and through escrow, the buyer will have the support of the insurer if a dispute ever arises about ownership. Plus, the buyer can always file a claim if they ever find out there are any liens, issues about rights, or problems with documentation. The insurer will see to it that your investment is protected, even if that means bringing the issue in front of a judge. When you are ready to commit to a purchase, shop around for a company that offers great title insurance rates. Your mortgage lender might refer you to a certain insurer, but they cannot force you to work with any particular company. You have the right to choose who will handle your affairs if there is ever any doubt about your ownership. Plus, if you meet with several insurers and compare their fees, you might be able to get one of them to sweeten the deal in order to get your business. Do you know anyone in the real estate business or someone that flips houses for a living? These people usually know about how to find the best title insurance rates. They have connections with people in various sectors of the industry. Ask one of these people which insurer they would recommend you contact. In most cases, they can send you to the outfit that offers the most affordable fees in town. This may only save you a hundred dollars at most, but every cent counts when you are investing so much money. The money you save could be enough to take care of a future utility or some other minor home improvement expense. In Michigan, title insurance rates from Liberty Title are extremely competitive. Learn more at http://www.libertytitle.com/rate-calculator/.
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