Most real estate transactions can be a tricky process! The sheer number of terms, fees, requirements – not to mention signatures – can leave most homebuyers dazed and confused. In that massive folder of documents, you’ll surely have some paperwork dealing with title insurance; something most lenders require, but few borrowers truly understand.
Simply stated – title insurance is meant to protect your (and your lender’s) financial interest in real property against loss due to title defects, liens or other circumstances. When you purchase your home, it’s important that those selling the property have a clear and legal title to convey to you.
While the records at the property office may be official, there’s always a chance they could be wrong, which could be devastating! That’s why a full title search is always necessary; to thoroughly review the property to see if there are anything outstanding issue that could adversely affect the transfer or value of the home.
Click to learn more about title insurance, including additional real-life examples – then call Benefit Title Services at 800-237-9190 today!