Definition
Title premiums are typically 0.5-1% of purchase price. It's a one-time fee providing coverage as long as you own the property.
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Title premiums are typically 0.5-1% of purchase price. One-time fee provides coverage for as long as owner holds property.
Pro Tip
Title premiums are negotiable. Sellers often cover in strong buyer markets.
Example
Title insurance premium of $2,000 for $400,000 home purchase.