In some cases, the homeowner’s insurance policies of the seller and may not overlap neatly enough to cover that transitional period, and a title binder can help. With a title binder, temporary insurance is obtained that covers the transition of ownership period between the seller and the buyer. To be clear, title binder insurance and title insurance are not the same thing. One protective measure that could help both buyers and sellers is title binder insurance. Plus, during those weeks, opportunity exists for much to go wrong, so it is wise to take precautions during real estate transactions. Though someone may feel as if he or she has found the right buyers, it can take weeks, if not months, before the keys to that home to land in the buyer’s hand. Selling a home is a major endeavor for any Ohio resident.
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