Why Do I Need Owner's and Lender's Title Policies?

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

www.youtube.com/c/TimBroHomesUS

www.TimBroHomes.US

Why Do I Need a Title Policy???

Real Estate Matters with Tim Bro

Why Do I Need a Title Policy???

Title issues occur with surprising frequency. It is estimated one of every four residential real estate transactions has title issues.

Based on thorough examination of records, potential title problems usually can be found and cleared prior to the purchase of the property.

Once a title policy is issued, if a valid claim arises, it will be covered under the title insurance policy. The title insurer will pay the legal fees involved in defense of the insured’s rights. That protection is in effect as long as the insured owns the property.

If you have questions regarding title policies, call Tim and he will put you in touch with one of his experienced title reps. Buying a home is a major undertaking, make sure to get Tim involved early in your home buying process and call Tim @ 858-354-2354, “The Right Choice in Real Estate”.

When Real Estate Matters, contact Tim.  BRE #01224576

www.youtube.com/c/TimBroHomesUS

www.TimBroHomes.US