Real
Estate Matters with Tim Bro
Why Do I
Need Owner’s and Lender’s Title Policies?
A
common question that buyers ask their real estate agents is, “Why do I need an
owner’s title policy and a lender’s title policy?
Insuring
title begins with a search of public records to determine that title to the
property is insurable – that, among other things includes:
·
Deeds
contain no incorrect names or wording
·
Any
outstanding mortgages, judgments, or liens against the property that will need
to be paid at the close of escrow
·
Any
pending legal actions against the property that could affect buyers
·
Any
defects on the title that need to be addressed
Simply
put, title insurance protects against financial loss from defects in title to
real property – for mortgage lenders as well as buyers.
To
get started with your home sale or purchase, call Tim @ 858-354-2354, “The Right Choice in Real Estate”.
When Real Estate
Matters, contact Tim. BRE #01224576
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