Hi @Asher Carr, usually in NJ, the buyer pays for their own closing costs, which includes title insurance, attorney fees, and lender fees if applicable.

You may want to first verify their license with either the county or city, and ask to see their insurance policy before you hire them.

Based on my experience, the most efficient way to shield this is to have an insurance.

Many insurance companies do not insure homes with students as tenants.

What about insurance?

The escrow company charges around $100/year and then they handle the property tax and insurance payments, late fees, etc.We put about 10% down, which basically covered his commissions and closing costs/taxes.

If so, which insurance company do you go for?

If your using money you cant afford to lose and or need to finance or plan to resell.. then buying a property without title insurance is risky.cheap land is many times bought with out title insurance..

The seller has agreed to give 1% for closing for each plex.Debt Service: The monthly mortgage will be $2118.01 (each plex) - Taxes and HOA included (HOA is 580 month which includes fire, wind, casualty insurance, exterior maintenance, outside plumbing repairs, & roof).Gross Rent: $3,680 - currently two units are renting at $890, and $950.

I'm looking at buying my first owner occupied duplex/rental property.Comps = Median Price $149,000.00Duplex 1bld. 2units. 2bd / 2bth 13yrs. old Living area 1,800sqftList Price: $214,000Annual Gross Income: 20,400Annual Expense 4,366Annual Net Inc: 17,174.93Taxes: $2,362.00I don't know what the insurance is Tenants pay for electric, water, sewer and trash.