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Updated over 5 years ago on . Most recent reply

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Allen L.
  • Rental Property Investor
  • Chicago and mainly invests in KS remotely
311
Votes |
356
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What should be my owner title insurance amount?

Allen L.
  • Rental Property Investor
  • Chicago and mainly invests in KS remotely
Posted

I am under contract on a BRRRR project, and the title company is insuring me only for the purchasing price. I feel like shouldn't this value be the purchase price + rehab budget? If someone claims title to the property after my BRRRR, then I've also invested the rehab cost into the property, so shouldn't I also be insured for that?

Looking for people to shed light on what's commonly insured for rehab projects.

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Not sure about it at purchase, but I assume you can pay for a higher value. I’ve bought property st foreclosure auction, the immediately got title insurance for more than double what I paid. 

@Tom Gimer ??

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