Saturday, April 07, 2007

query: is title insurance necessary on brand new home

Yes. Remember the home is simply an improvement on the land. You are purchasing the land plus any improvements. The land is not "brand new", right? So, you are having the ownership and marketability of the land examined and insured.

You may be eligible for a reduced premium for new construction. Be sure to ask. In Pennsylvania we have an Operative Builder Rate. Homebuyers of builders who qualify pay less for their coverage.

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