![]() ![]() For a one-time premium, the title insurance company, which is in the business of examining public records, preparing title abstracts, and selling title insurance, issues the insurance after doing a title search on the property. ![]() Title insurance protects the buyer of a property or the lender for the property against unknown defects in the title. investors) who intend to “flip” a home or for those who are subject to frequent relocation or who just find themselves not wishing to remain in a specific home for more than two years.Įvery time you sell and buy a home, you incur costs to have the title searched. The key to the title binder is asking yourself, “How long do I plan to keep this property?” The title binder is a cost saving tool for people (i.e. It IS something that you should know about to save money if plan on selling your home within 2 years after its purchase.Ī title binder, also known as an interim binder, is not a title insurance policy, but is, instead, a commitment to issue a title policy. What is a title binder? No, it’s not the binder you take to keep your notes in concerning your title and escrow proceedings. ![]()
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