Title insurance is likely an important part of the process, even if you think your purchase is too small to be at risk. Essentially, title insurance (or at least a title search) is vital anytime you're purchasing land. Anything that might affect the title can be covered in the policy, most commonly unpaid taxes, mortgages, liens or judgments against the property. In short, a good broker and title company will give you peace of mind about your deal.

Purchasing title insurance is a very common practice, especially in the real estate business. However, one may not always be aware of exactly what their policy covers until they experience some type of conflict with their closing or ownership. In that case then, knowing how to select a good title insurer becomes absolutely crucial. The best way to ensure you are getting the protection you need is through research, as well as personal recommendations by those that have purchased title insurance before.

So, the next time you are signing a title search or policy and want to know who is responsible for the cost, now you know. The real estate agent and/or attorney will pick the title company, which will then decide how much to charge for their services. Sellers are never charged title insurance directly by the title company. As with most services in real estate, we rely on trusted affiliates to provide us with a needed service for a fee paid by the buyer.For more detail, please refer to the info-graphic below.