Chicago Properties Title Insurance Tips



Chicago Properties Title Insurance Tips

Chicago Properties Title Insurance Tips
If you​ plan to​ buy a​ Chicago property,​ the​ sooner you​ learn about title insurance,​ the​ better. For many first time Chicago real estate buyers,​ the​ first time they hear about title insurance at​ the​ closing of​ their Chicago property. This article presents the​ basics of​ title insurance for protecting your new Chicago real estate acquisition.
What is​ Chicago Properties Title Insurance?
When you​ buy a​ new car,​ do you​ insure your car? of​ course! When you​ apply for car insurance,​ does the​ agent ask to​ see your title? of​ course! That’s the​ basic idea behind Chicago Properties title insurance to​ protect your Chicago real estate investment ,​ the​ mortgage lender requires proof you​ own the​ Chicago property and no one else has a​ lien on​ your property. the​ chances or​ securing a​ Chicago real estate mortgage without title insurance are like the​ Chicago Cubs winning the​ pennant this year only better!
Title Insurance NOT Casualty Insurance
Casualty Insurance such as​ car insurance assumes risks for damage to​ your car or​ other property. When you​ have a​ covered accident or​ loss,​ they pay you. Title insurers earn their money by finding and eliminating risks to​ your Chicago property BEFORE you​ sign the​ contract. the​ amount of​ money involved is​ so LARGE,​ there is​ no room for mistakes. the​ Chicago real estate buyer and Chicago real estate seller both want the​ deal for the​ Chicago property to​ go through and title Insurance is​ the​ vehicle to​ close the​ deal.
Title Insurance Benefits Chicago Properties
First you​ should be healthy and live to​ a​ ripe old age in​ your new Chicago property… Because the​ problems that could befall you​ without title insurance could endanger your health such as​ investing your life savings in​ a​ Chicago property only to​ find you​ don’t have a​ clean title to​ it​ and wind up in​ court. the​ lawyer fees alone will set up back a​ small fortune or​ a​ big one depending how long and costly the​ fight to​ secure title to​ your Chicago property.
Chicago Properties Title Insurance Policies
Title insurance policies come in​ two types of​ policies An owners policy which insures you,​ the​ homebuyer and your heirs. the​ other type is​ a​ lenders policy to​ protect their security interest in​ your Chicago real estate acquisition. as​ opposed to​ car insurance,​ the​ title insurance premium is​ a​ one time payment based on​ the​ size of​ your Chicago property purchase. Also,​ shop around for title insurance to​ save money better spend on​ your new Chicago property. Happy Home Hunting!

Chicago Properties Title Insurance Tips





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