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Realty Professionals
8070 21 Mile Rd.
Shelby Twp., MI 48317
ph:  586.932.2660
fax: 586.932.2662
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Insurance Closing Costs

Homeowner's Insurance
This insurance covers replacement costs for damages caused by fire, wind or   other disaster that might affect the value of the property. Typically, the   insurance also includes personal liability and theft coverage.

Flood or Quake   Insurance
Additional hazard insurance coverage that is required for homes located in a   designated hazard zone as established by the Federal Emergency Management   Agency (FEMA). As we tour houses, I will let you know if the property resides   in a hazard zone.

Private Mortgage   Insurance (PMI)
Insurance required for conventional mortgage loans when the borrower's down   payment on the house is less than 20 percent of the loan value.

Title Insurance
This policy protects both the buyer and lender by insuring a clear chain of   title. (In other words, it insures that that the person who sells the house   has the legal right to do so.)