How do I obtain title insurance and what does it cost?

Lenders and buyers each receive the protection of a title insurance policy as part of the transaction. The buyer receives assurance that they are receiving “merchantable title” to the property. The lender receives assurance that they have a first lien, (a security interest with priority). The seller usually selects the title insurance company. Title insurance can be obtained through any title insurance company licensed in the sate in which the property is located. MotonProperties participating real estate attorneys are all agents for Attorneys’ Title Guaranty Fund, Inc., a leading title insurer and can provide you with title insurance as part of their representation of you in the transaction. The cost is a one-time fee, paid at the closing and will vary with the purchase price of the property. The attorney will charge a reasonable fee for the preparation of that title insurance policy.