Everyone needs title insurance when buying a home. Title insurance is very regulated and costs about the same amount regardless of where you buy it (about 1% of the purchase price, which is rounded up from .77%, if you want to be technical). They are included in ‘closing costs’ as part of the fees.
There are two title insurance policies for each transaction: the homeowner’s policy and the lender’s policy. The homeowner’s policy is paid for by the seller. The lender’s policy is paid for by the buyer.
There are two common exceptions to this, however. The first is when the buyer pays in cash. When the buyer pays in cash, there is no need to get a loan, so a lender policy is unnecessary. The second exception is when the buyer gets the seller to pay for all the closing costs. In this case, the seller would pay for both the homeowner’s policy and the lender’s policy.
Do you have more detailed questions about title insurance? Feel free to shoot me a message!