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TITLE
CLOSING
MOVING PREPARATION
INSURANCE
Title insurance protects the insured from a
nancial loss related to the ownership of a
property. There are two policies in the mix at a
home loan closing: the lender's policy, which is
required, and an optional owner's policy. Both
are a one-time, upfront cost — not a monthly
premium added to your mortgage payment.
The title company will check the property's
ownership history by examining public records,
including sales, purchases, tax, and other types
of liens. Ideally, your new home has a "clear
title." That means the current owner, who is
selling to you, has total ownership of the property
without any legal claims against it. Claims can
be in the form of a levy or lien from a creditor,
lender, or in the event of taxes due — the federal
government.
Why buy title insurance if no outstanding
claims or title defects are found? Because an
undiscovered issue could cloud the ownership
of the property even years after the purchase.
Such issues could be a mistake in the ownership
history, an error committed by the title researcher,
a previously unknown heir, or a pending legal
judgment. A title defect that arises after a loan
closing could mean a variety of legal costs —
and, in a worst-case scenario, the loss of your
property and the money you've put in it.
INSPECTIONS
TITLE
CLOSING
MOVING PREPARATION
INSURANCE
FINANCING
The more stuff you move, the more it costs. Moving
is an excellent time to decide what you really need
and want. No matter how you do it, moving is not
cheap or easy. It's helpful to create a moving budget.
A full-service move means that movers will handle
everything, including packing and unpacking your
items. Costs vary greatly. The American Moving and
Storage Association estimates the average price is
$2,300 for a local move compared to a long-distance
move costing around $4,300 based on an average
weight of 7,400 pounds, according to moving.com.
Movable freight containers can be a cheaper option
because you don't have to pay movers. You load the
container yourself. According to PODS, costs range
from $70 for a single container moved locally to
$5,000 to move a large household long-distance.
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