Home selling costs – title insurance
![]() I had a client ask me what would be some of the costs when selling his Metro Detroit home. Besides the commission title insurance is another of the big costs of selling a Michigan. He said why does he need to buy title insurance? He knows there is no liens against his home. The title insurance isn’t really for him. It’s for the buyer. It is to protect the buyer from problems with thetitle. I would never close a house without title insurance or a title company being involved. In Michigan it is customary for the seller to provide an owners title policy. A owners title policy is an insurance policy that guarantees that the buyer is getting clean title to the homeand land. In other words, it is insurance that guarantees that the buyer is receiving a full and 100 percent interest in a piece of property and that there are no other claims to that property. If it later turns out that there was another ownership interest out there, then the title company must reimburse you according to your title insurance policy for any financial loss that you incur as a result. No buyer wants problems in the long run. That is why owner’s provide a title policy. It is insurance that their Metro Detroit home has no liens, no claims of ownership interest in it. It protects the owner too. If they didn’t have title insurance they would be the one getting sued if something was wrong with the title down the road. After all they sold the property under the premise that is was clear and free. A owners title policy is mandatory item if you want to sell your Metro Detroit home. Sumac Pointe, Newburgh Lake, Hines Park, 8 tips to help you sell your Metro Detroit home Guarantee to sell your Metro Detroit home [wnt_grid keyid=”1″ title=”Royal Oak MI homes for sale” maptype=”disabled” ownertype=”all” paginated=”true” sortoptions=”true” maxresults=”50″ search_mode=”form” primarysearchtype=”active” searchtype=”city” state=”MI” single_family=”y” condo=”y” min_price=”280000″ max_price=”1000000000″ listing_status=”Active” county=”Oakland” city=”Royal Oak” /]
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