When purchasing your home you need to be sure there are no problems with the home’s title and that the seller really owns the property.
Why? Because if there are problems with the title it can limit the use of the property and ultimately result in financial loss. That’s why we help you with a comprehensive title search and cover your investment by providing title insurance. We have worked with thousands of homeowners and serve as a trusted partner with many real estate agents in the area. After experiencing our level of service the first time many customers find themselves coming back time and again to have us handle all their closing needs.
We also love working with homes for sale by owner.
We accommodate everyone with professionalism and take each person through the same process ensuring the highest quality of service and results.
When you buy real estate, you can see what you’re buying, right? There’s the land, the structure, the landscaping, possibly some waterfront.
But there’s one important thing you can’t see: all the defects, liens, or encumbrances that maybe affecting the title to that property. You can’t see the names of who may have an ownership and/or financial interest in the property. SO many times you cannot be 100% sure that the person or company selling you the property has the authority to do so or that the property will be free and clear of any issues when ownership transfers.
Surprisingly, the quality of any property’s title is not an absolute thing. It is a matter of opinion, where even experts thoroughly versed in the law of real estate may differ.
So anyone who reviews your title might make an honest mistake. Or might not discover some of the hidden things that might seriously affect your ability to enjoy the property the way you had intended. Things like a forged will or deed, a title transfer by someone under age, a married person conveying without his or her spouse joining in the transfer, fraudulent impersonations, secret marriages, undisclosed heirs, invalid divorces, false affidavits … and so on. Title insurance is your protection as a purchaser or lender (in the case of a refinance).
There are two basic types of title insurance policy protection one of the mortgage lender (Lender’s Title Policy) and one for the new owner (Owner’s Title Policy).
If a mortgage is to be placed on your new home, the mortgage lender will probably require that you purchase title insurance to protect his investment. But this mortgagee’s title insurance policy doesn’t protect you, the home owner. It protects the mortgage lender.
You, the new home owner, need an owner’s title insurance policy to protect your investment.
The cost is conservative. You pay only once. There are no renewal premiums, and there is no expiration date on the policy. Yet the protection lasts as long as you, or your heirs, retain an interest in the property.