What is Title Insurance for a House?

The process of buying a home brings excitement but it also exposes you to unknown risks. Title insurance stands as one of the most effective ways to protect yourself during the homebuying process. Blue Pointe Title operates as your local Michigan title insurance company to provide assistance to Michigan homebuyers since 2018 regarding closing costs and real estate transactions and title issues.

How the Title of Your Dream Home Can Impact Ownership

You’ve found your dream home. Everything looks great. But there could be hidden issues that, if not researched, could impact whether you own the property or not. Your property ownership could be threatened by an unexpected issue such as an unpaid lien or a missing past owner’s signature. Title problems that remain undiscovered may cost you much more than you anticipate.

Title problems can include:

• fraud

• recording errors

• unpaid taxes

• undisclosed heirs

These issues with the property’s title could emerge months, or even years, after the closing real estate transaction. The property and finances involved in the transaction are at risk when a client lacks title insurance and protection because these issues could lead to expensive legal battles and loss of property ownership.

Owner’s Title Insurance: Your Best Protection Against the Unknown

That’s why owner’s title insurance exists—and why getting it is a must. Since 2018, Blue Pointe Title has helped Michigan buyers protect their investments with thorough title searches and reliable title insurance in Adrian, MI. For a one-time premium, usually paid with closing costs, clients gain peace of mind, knowing their ownership rights are protected.

Top Title Insurance Tips for Homebuyers in Adrian, MI

At Blue Pointe Title, we believe informed buyers are empowered buyers. Whether a client is a first-time homebuyer or a seasoned investor, these title insurance tips are ones that Adrian, MI homeowners should know, and can help make the closing process smoother and safer.

1. Always Get Owner’s Title Insurance

Even if the lender requires their own policy, that doesn’t cover the homeowner. An owner’s policy protects the homeowner’s financial interest in the home. Title insurance lasts as long as the homeowner owns the property.

2. Ask About a Reissue Rate

If the property has had a title insurance policy in the last 10 years, the homeowner might qualify for a discount. We encourage homeowners to ask the team at Blue Pointe if they are eligible, and we’re happy to help them save if we can.

3. Select a Local Title Insurance Agency

The local title insurance agency in Adrian, MI, Blue Pointe Title, provides you with professionals who have expertise in Michigan real estate laws, property history, and closing practices.

4. Understand What Title Insurance Protects Against

Title insurance protects against problems like:

• Unknown heirs or forged documents

• Unpaid property taxes or contractor liens

• Mistakes in public records or legal descriptions

• Past ownership disputes

5. Don’t Confuse Title Insurance with Homeowners Insurance

They sound similar, but these two insurance types are very different. Homeowners insurance covers future events like fire or theft. Title insurance protects you from past issues tied to the home’s legal ownership.

6. Know That It’s a One-Time Payment

Unlike other insurances, there are no monthly payments. Homeowners pay for title insurance one time during closing, and it protects them for as long as the original homeowners or your heirs own the property.

7. Work with Professionals in Lenawee County You Can Trust

Blue Pointe Title has proudly served Adrian and surrounding communities since 2018. Our deep local knowledge and excellent relationships with real estate agents, lenders, and attorneys make us the go-to Michigan title insurance company.

Buying a Home in Michigan? Don’t Skip Title Insurance

At Blue Pointe Title, we’re here to make sure homeowners’ property rights stay secure. Don’t risk the property investment by skipping an essential step.

Frequently Asked Questions About Title Insurance in Michigan

1. Do homeowners need title insurance?

Title insurance stands as one of the best investments for homebuyers, particularly in Michigan. We advise all homebuyers to obtain owner’s title insurance in addition to the lender’s title insurance which their lender will require. The protection provided by title insurance defends homeowners against unexpected claims that include unpaid taxes, undisclosed heirs, and legal disputes about ownership rights. Blue Pointe Title operates as a trusted title insurance agency in Adrian, MI where we have witnessed title problems emerge after multiple years of ownership.

2. How long is title insurance good for?

The protection of owner's title insurance remains valid throughout your homeownership period and extends to your heirs after you pass away. The one-time premium paid during closing provides permanent protection that never expires. The extended security provided by title insurance in Adrian and throughout Michigan makes its cost worthwhile.

3. How much is title insurance?

The title insurance costs in Michigan range between 0.5% and 1% of the home purchase price. The title insurance premium for a $200,000 home purchase will cost between $1,000 and $2,000. The title insurance rates depend on the homeowner’s loan amount and purchase price and your eligibility for a reissue rate. Blue Pointe Title provides clear pricing to customers because we avoid all unexpected fees.

4. Who pays for title insurance in Michigan?

The standard practice in Michigan requires buyers to pay for lender title insurance but sellers may choose to pay for owner title insurance based on a homeowner’s agreement and contract. The majority of Adrian area real estate deals involve buyers purchasing both policies for complete protection. Our team at Blue Pointe Title will guide homeowners through your choices and explain the process in detail.

Call us today at (517) 258-1511 or click here to contact us