Planning on Selling Your Home?

If you're thinking about selling your home this year, you're not alone.

Trulia recently conducted a survey of over 2,000 U.S. adults in order to forecast homeownership for 2018. The results show 31 percent of respondents expect 2018 to be a better year for selling a home than 2017 – and only 14 percent expect it to be worse.

So for those of you planning to sell, here are some ways to prepare your home.

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Popular FAQ: The Cost of Title Insurance

If you've purchased a health or auto insurance policy, chances are you have an idea of how traditional insurance coverage works: you pay your premium and the insurance company takes on the financial liability of your auto or health risks. Obviously your rates will be adjusted according to how "risky" you are as a customer. In this brief blog, we'll explain how title insurance difers from other insurances, how it eliminates risk, and how you can find out the cost of title insurance. 

How Title Insurance Is Different From Other Insurances

Types of insurance such as auto and health, assess the risk of future loss -- taking into account car accidents, health problems, and other potential issues. Title Insurance differs from other insurances because it eliminates risk, the risk being the loss or compromise of other homeowner rights due to existing issues with the property's title. The policy then offers financial indemnity against any of those defects that may be uncovered. Here at Hamlet Title Agency, we help eliminate risk by completing one of the most comprehensive title surveys you will be able to find.

How Title Insurance Eliminates Risk

In order to properly eliminate risk, the process of issuing a title insurance policy includes a thorough search of public records and court documents to assess and cost of title insuranceremove any "clouds," or issues on the property's title.

When you receive the keys to your new home, you may already have an idea about the work that goes into a successful closing. However, few new homeowners recognize the efforts involved in searching and underwriting a title insurance policy -- one part of your closing can prove invaluable down the road.

In-Depth Title Search

An in-depth title search, like the search done by Hamlet Title Agency for New York, is comprised of an extensive examination of public records. This can be difficult because depending on the jurisdiction, liens and judgements on a property may be filed a number of ways - by the name of the buyer, the name of the owner, the street address, lot number, etc. We at Hamlet Title Agency have created very systematic and thorough processes and methods for conducting our title searches, resulting in indexed data that facilitates faster and more accurate title searches.home owner's title insurance

The Value of Title Insurance

Due to the statistically small percentage of title insurance claims filed each year, it may be difficult for homebuyers to gauge the value of their purchase. However, the low number of claims actually illustrates the effectiveness of title insurance providers in locating and eliminating risk. In fact, a large piece of the premium paid for the policy goes to fund the legwork required to throughly research the property's title.

According to the American Land Title Association, the typical expense ratio for a title insurance company is 90 percent, compared with 30 percent for a property and casualty insurance company.

The Cost of Title Insurance

The Title industry is a heavily regulated industry, title insurance policy types and cost will vary from state to state.

ny title insurance rate calculatorHamlet Title Agency wants to make it easy and simple for you to get a title insurance quote immediately for New York State. All you have to do is put in the specifics around the property, location, transaction type, sales price and loan amount and you'll receive an immediate title insurance rate quote. The calculator is designed to adjust based on your county, to vary by a wide range of factors, from location to sales prices or loan amounts.

  • Receive a customized quote on title rates, closing costs, endorsement & recording fees, and more
  • Request a copy of the title quote to be emailed to you 
  • Fully integrated with Google Maps unlike any other title calculator

 

Thinking about buying your first home? Check out our free resource for first-time homebuyers 

how to buy a home

Tony Bellettieri
ABOUT THE AUTHOR | Tony Bellettieri

Title Insurance Calculator for New York

We want to make it easy and simple for you to get a title insurance quote immediately for you or your client. Simply put in the specifics around the property, location, transaction type, sales price and loan amount and you'll receive an immediate title insurance rate quote! The calculator is designed to adjust based on your county, to vary by a wide range of factors, from location to sales prices or loan amounts.

Title Insurance Calculator
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