5 Things You Need to Know About Title Insurance
While most of us know what title insurance is, we don’t all realize its importance. Especially since the law doesn’t make it obligatory for you to get it.
But purchasing a title insurance policy may be what makes the difference between you actually having a home and losing it, despite paying the mortgage!
That being said, here are 5 things you need to know about title insurance:
It provides protection from Title defects
Title insurance provides you with protection against financial loss due to defects in the title of a property. This includes any issues such as outstanding liens, judgments, or other claims against the property that could potentially cause loss or damage.
It gives you peace of mind
Title insurance gives you and your lenders peace of mind by reducing the risks associated with owning or financing real estate. It ensures that any title defects will be identified and resolved before the transaction is finalized.
It is cost-effective in the long-term
Title insurance is a one-time cost and it provides ongoing protection for as long as you own the property. This makes it a cost-effective way to protect your investment in real estate.
You get access to professional assistance
When you purchase a title insurance policy, you get the benefit of professional assistance from an experienced title company. They will conduct a thorough search of public records to identify any potential title defects and work to resolve any issues that are found.
You’re set for legal defense
If a title claim is made against your property, the title insurance company will provide legal defense and cover the costs of any damages that are awarded. This can save you a significant amount of money and stress in the event of a title dispute.
If you’re ready to purchase a title insurance policy, don’t hesitate to get in touch with us HERE!