Buying title insurance after closing is a proactive way to "fix" a gap in your financial protection. While it lacks the discounted pricing of a closing-day purchase, the one-time premium is a small price to pay compared to the potentially devastating costs of defending your property rights in court.
While title insurance is almost always purchased at the time of a real estate closing, , though the process is slightly more complex and may involve additional costs. The Feasibility of Post-Closing Title Insurance buying title insurance after closing
Purchasing title insurance after closing is often more expensive than doing it during the initial transaction. Buying title insurance after closing is a proactive
: You will be responsible for the cost of a new title search and potentially a new survey if the title company requires one to grant certain coverages. Conclusion Most homeowners receive a title insurance policy
: You will need to provide the title company with your original deed and closing documents to prove you are the current legal owner. Conclusion
Most homeowners receive a title insurance policy during the closing process because lenders require a "Loan Policy" to protect their investment. However, many owners overlook the "Owner’s Policy," which protects their own equity. If you skipped this at the closing table, you can still obtain coverage.