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Insurance >The Purpose of Title Insurance
When you finance a home through a lender, you will be required to purchase title insurance to cover the amount of your mortgage loan. At the closing you will be given the option to buy additional coverage to protect your investment.
Before the closing, the title company will order a title report to make sure the sellers actually own the home and that no one else has a legal interest in the property. This process will identify any potential title problems or liens. Title insurance covers you against any future claims that did not appear on the title report. It is a one-time charge that you pay at the closing of the transaction, and it covers your future equity up to a stated maximum amount as your property increases in value. It's a small price to pay to protect such a major investment.
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| Q |
What is the world's most expensive Monopoly set?
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| A |
San Francisco jeweler Sidney Mobell created an exclusive $2 million Monopoly set, with solid 23 carat gold houses, chimneys made of rubies and sapphires and dice with 42 full cut diamonds for spots. |
See More Real Estate Trivia > |
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Katy Gallagher - Broker, Hawaii Real Estate Team MRV Real Estate, Inc. 161 Wailea Ike Place, #C101 Wailea, HI 96753 808-264-0570 Fax: 808-442-9002 katygallagher@NUMBER1EXPERT.com
Katy is a full-time, professional REALTOR specializing in the sale and marketing of homes throughout Maui. Katy also manages vacation and long term rental properties. She was a Licensed General Residential Appraiser with seven years of experience in the field, and a published author of two appraisal text books. Backing her professionalism with 15 years of computer systems and components marketing and sales experience, Katy's knowledge and understanding of real estate in Maui is truly outstanding.
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