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Title Insurance Part VI Important Notes
When purchasing a property, it’s important to consider the potential risks and costs associated with any title issues or defects that may affect your property rights. Fortunately, title insurance can provide valuable protection and peace of mind for property owners.
The cost of title insurance can vary depending on several factors, including the type of property, its value, the mortgage, and the insurer. While title insurance is not always mandatory, most lenders require it as a condition of the mortgage.
To ensure that you’re choosing the right title insurance policy for your situation, it’s important to speak with your real estate lawyer. They can help you navigate the options available to you and find a policy that meets your needs and budget.
Ultimately, investing in title insurance can save you from costly legal issues and protect your property rights for as long as you own the property. So, be sure to consider title insurance as an important aspect of your property purchase process.
A Beautiful Day in Fort Erie
Living in Fort Erie means enjoying the best of both worlds: the peacefulness of a small town and the convenience of big-city amenities. My latest video showcases why Fort Erie is the perfect place to live, work, and play!
Link for the full video: https://youtu.be/LdXW3caPoRs
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Your Dream Mansion! 427 Buffalo Road
Welcome to your dream home!
Swipe right to see more of this beautiful property located in the heart of Fort Erie. With spacious rooms, modern finishes, and a large backyard, this house has everything you need to create the perfect home for you and your family.
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Spring is Here!
Spring is here on the shores of Lake Erie in Ridgeway, Crystal Beach!
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Business (Restaurant) for Sale
Looking for a new space to grow your business? Check out our newest listing!
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Is Title Insurance Required?
As a real estate broker, I highly recommend obtaining title insurance, even if it is not required. While the one-time premium may seem like an added cost, it provides valuable protection and peace of mind. The cost of resolving title issues can be substantial, making title insurance a worthwhile investment.
The best part? Once you purchase a title insurance policy, it remains in effect for as long as you own the property. So, even if you plan on staying in your home for years to come, you can rest easy knowing you’re protected.
If you didn’t obtain a title insurance policy when you first purchased your property, don’t worry! You can still purchase a policy after the fact to protect yourself from any potential title issues. Contact your real estate lawyer or visit a title insurance provider’s website for more information.
How Much Does Title Insurance Cost?
As a real estate broker in Ontario, one of the questions that I frequently receive from clients is “How much does title insurance cost?” It’s a valid question and one that can be tricky to answer without some background knowledge.
Title insurance is a form of insurance that protects you, the property owner, against any financial loss or legal issues that may arise from defects in the title of the property. This can include issues such as liens, encumbrances, fraud, or errors in public records. Essentially, title insurance provides an extra layer of protection to ensure that you can enjoy your property without any unexpected surprises.
So, how much does title insurance cost? The short answer is that it depends on several factors, including the type of property, its value, the mortgage, and the title insurer. Premiums are a one-time fee, typically paid at the time of closing, and are not a monthly expense.
In Ontario, there are four main title insurance companies: Title Plus, First Canadian Title, Stewart Title, and Chicago Title. Each company has their own set of rates and fees, which can vary depending on the property and mortgage details.
To give you an idea of what to expect, let’s take a look at some example quotes for a resale single-family home with a bank mortgage:
Purchase Price: $500,000, Title Insurance Premium: $442.00
Purchase Price: $750,000, Title Insurance Premium: $712.80
Purchase Price: $1,000,000, Title Insurance Premium: $982.80
It’s important to note that these figures are provided as examples only, and your specific quote may differ. To obtain an exact quote for your property, you can visit the title insurance provider’s website or contact your real estate lawyer.
While title insurance is not mandatory in Ontario, it is strongly recommended as it provides an extra layer of protection for your investment. The cost of title insurance is a small price to pay for the peace of mind that comes with knowing that your property is protected.
In conclusion, the cost of title insurance varies depending on several factors, and it’s important to obtain an exact quote for your property. As a real estate broker, I always advise my clients to consider title insurance as part of their overall investment in a property. The small premium paid upfront can potentially save you from unexpected legal or financial issues down the road.
Savory Chicken and Shrimp Lettuce Wraps
California dreaming of these savory chicken and shrimp lettuce wraps from my favorite West Coast spot, California Kitchen! 
Tried to do this for myself at home and turned out delicious! Have a look!
Recipe here: https://youtu.be/cp0V6v6wy1M
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Podcast: Play in new window | Download
Solange Restaurant Interview! Coming Soon!
Ready for a taste of the exotic? 
Join us this Saturday for an exclusive interview with the owner of Solange restaurant and discover the secrets behind their mouth-watering cuisine! 
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Podcast: Play in new window | Download
Business Space and Equipment for Sale | 336 Central Ave.
Ready to take over a thriving renovated commercial space equipped with quality restaurant equipment and make it your own? Be your own boss and own this turn key opportunity! Now with a slash on the price!
Here are the reasons you will ❤️ this business opportunity!
🥗 Set up for a take-out restaurant or potential eat-in establishment
💵 Price includes all chattels and leasehold improvements
⏲️ Chattels and improvements are less than 5 years old
👯♀️ Close to 5 years of community loyalty
🛋️ Recently renovated interior/exterior on both sides of the counter
🌆 Located in a mature community close to a school, church, and lots of housing
🏢 Building was recently renovated for a restaurant takeaway establishment and has the potential for dine-in too. Buyer to verify any necessary retrofits essential for a dine-in establishment.
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🕣 Everything was Installed Brand new in 2018, not even in the 5th year of depreciation almost brand new
🧽 All equipment has been well maintained and Hoods are cleaned and maintained every 3 Weeks
☝️ This business currently offers catering, takeaway orders, prepared dishes, and meals ideal for a busy families. A similar business model would be ideal however, other options are possible with this turnkey flexible setup
Do note: Recipes are not included, but this won’t stop you from establishing your own, Hit the ground running upon stepping in and Start making money from day one!
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