Chicago Properties - Title Insurance Tips

If you plan to buy a Chicago property, the sooner you learn about title insurance, the better. For many first time Chicago real estate buyers, the first time they hear about title insurance at the closing of their Chicago property. This article presents the basics of title insurance for protecting your new Chicago real estate acquisition.

What is Chicago Properties Title Insurance?

When you buy a new car, do you insure your car? Of course! When you apply for car insurance, does the agent ask to see your title? Of course! That?s the basic idea behind Chicago Properties title insurance - to protect your Chicago real estate investment , The mortgage lender requires proof you own the Chicago property and no one else has a lien on your property. The chances or securing a Chicago real estate mortgage without title insurance are like the Chicago Cubs winning the pennant this year ?only better!

Title Insurance - NOT Casualty Insurance

Casualty Insurance such as car insurance assumes risks for damage to your car or other property. When you have a covered accident or loss, they pay you. Title insurers earn their money by finding and eliminating risks to your Chicago property BEFORE you sign the contract. The amount of money involved is so LARGE, there is no room for mistakes. The Chicago real estate buyer and Chicago real estate seller both want the deal for the Chicago property to go through and title Insurance is the vehicle to close the deal.

Title Insurance Benefits Chicago Properties

First you should be healthy and live to a ripe old age in your new Chicago property? Because the problems that could befall you without title insurance could endanger your health such as investing your life savings in a Chicago property only to find you don?t have a clean title to it and wind up in court. The lawyer fees alone will set up back a small fortune or a big one depending how long and costly the fight to secure title to your Chicago property.

Chicago Properties Title Insurance Policies

Title insurance policies come in two types of policies: An "owner's" policy which insures you, the homebuyer and your heirs. The other type is a "lender's" policy to protect their security interest in your Chicago real estate acquisition. As opposed to car insurance, the title insurance premium is a one time payment based on the size of your Chicago property purchase. Also, shop around for title insurance to save money better spend on your new Chicago property. Happy Home Hunting!

Posted by Becky Hancock on December 13, 2008 at 12:00 AM

About Becky Hancock
Becky Hancock is affliated with The Buyers Agent, Souteast AL Realty, which is located in Enterprise, AL. For further assistance please use the contact information located on the right.

As of 05/17/12 the Becky Hancock RePage is ranked at 4,886 with 385 points.

Local Information for Enterprise, AL

Latitude: 31.327476 -- Longitude: -85.844484

ZIP Codes for Enterprise, Alabama	36330 36330 36331 36331
Area Code for Enterprise, Alabama	334
Time zone for Enterprise, Alabama	CST

Other Area Cities: Enterprise, AL Ozark, AL

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As of the census of 2000, there were 21,178 people, 8,533 households, and 5,973 families residing in the city. The population density was 264.2/km² (684.2/mi²). There were 9,641 housing units at an average density of 120.3/km² (311.5/mi²). The racial makeup of the city was 71.62% White, 22.95% Black or African American, 0.48% Native American, 1.60% Asian, 0.16% Pacific Islander, 1.27% from other races, and 1.92% from two or more races. 3.88% of the population were Hispanic or Latino of any race. There were 8,533 households out of which 33.1% had children under the age of 18 living with them, 53.6% were married couples living together, 13.3% had a female householder with no husband present, and 30.0% were non-families. 25.7% of all households were made up of individuals and 9.5% had someone living alone who was 65 years of age or older. The average household size was 2.45 and the average family size was 2.95. -- Source: Wikipedia.com

Alabama 2000 Census Population Profile Map

	Enterprise	Alabama	United States
Population	21,178	4,447,100	281,421,906
Median age	36.9	35.8	35.3
Median age for Male	34.9	34.4	34
Median age for Female	39	37.2	36.5
Households	8,533	1,737,080	105,480,101
Household population	20,918	4,332,380	273,643,273
Average household size	2.45	2.49	2.59
Families	5,974	1,215,968	71,787,347
Average family size	2.95	3.01	3.14
Housing units	9,641	1,963,711	115,904,641
Occupied units	8,533	1,737,080	105,480,101
Vacant units	1,108	226,631	10,424,540

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Chicago Properties - Title Insurance Tips

Local Information for Enterprise, AL

Latitude: 31.327476 -- Longitude: -85.844484

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