Buying a home may be the biggest investment you will make in your entire life. And one of the best ways you can protect it is with title insurance. So, while you may find that the entire home-buying process is hectic and a bit overwhelming, don’t put title insurance on the back burner. Instead, prioritize it. We’ve got 6 reasons why you should.
1. The Benefit of a Title Search
Before a title insurance policy will be offered, title examiners will do a thorough review of the property. This includes going through records as far back as the property reaches. Any records attached to the property, such as deeds, judgments, tax liens, mortgages, trusts, wills, and the like will be reviewed in detail.
Not only will this tell the title company - and ultimately the buyer - whether or not the property is free and clear to sell, but it will also help to confirm that the seller has the right to sell it. As the buyer, you gain a bit of confidence in proceeding when you know that an in-depth look into its history has been done.
2. Protection From Title Issues
Regardless of how detailed the title search is, sometimes things just get missed. Maybe it was due to an oversight or maybe it was due to a document that was erroneously recorded. Whatever the reason, things like judgments, liens, outstanding mortgages, easements, encumbrances, and more can arise anytime down the road. And when they do, you will be responsible for handling them since you are the new owner.
This can turn into a lengthy and expensive legal battle. With title insurance, you are able to file a claim and have this situation handled on your behalf.
3. Threats to Your Property Rights
There are additional things that can show up and potentially impact your rights to your own property. For instance, forged documents and fraudulent impersonation happen more often than you might think.
Don’t leave your property rights at risk. Instead, let your title insurance handle your claim for you so that you don’t have to worry.
4. A One-Time Premium Payment
It is easy to shove aside something that you know may cost you quite a bit of money each month - especially if you are not able to fit it into the budget. But title insurance is not like health insurance or car insurance. It is a one-time premium payment - and then you are covered. That’s it.
5. Extended Protection
Not only do you pay for title insurance just that one time, but you are also protected for quite a long time. For instance, when you invest in an owner’s title insurance policy, you will have coverage for as long as you - or your heirs - have an interest in the property. And that could be a very long time.
6. Confidence and Contentment
When you move into your new home, you want to settle in and feel good about your investment. The last thing you want is to feel like something could take it all away in an instant. That’s an unsettling way to live life. But that’s the risk that comes with not making title insurance a priority. Title defects of all types can appear at any time - a week after closing or ten years after closing. You just never know.
So, don’t risk it. Begin creating your future in your new home and feel confident and content that should any title issues arise, you’re covered by title insurance.
Prioritize Title Insurance with Blue Pointe Title Agency
If you are in the process of buying a home - or any property, for that matter - don’t leave your property rights vulnerable. Protect your family with title insurance from Blue Pointe Title Agency.
To learn more or to get started on a title order, contact us today at 517-258-1511.
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