A one-time purchase can protect your property rights for as long as you and your heirs own your home.
In a sea of technical jargon and paperwork, a title search and insurance can seem confusing or even unnecessary. These helpful resources can better explain what title insurance is and how it works to help you make the right decision for your investment.
Get the (literal) download on the residential title process and answers to home buyers' frequently asked questions.
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There are many costs when it comes to closing on a home. Is title insurance really a necessary expense, and what does it do anyway? Here's what you need to know.
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Title is your ownership right to a property, and when you close on that property, that ownership right is granted to you physically in the form of a deed.
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It's like a receipt. It's your proof that you paid for something, and that something is yours, and nobody elses.
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Title insurance is a policy that protects against someone else coming along later and challenging your title, and your ownership rights, and making your life really miserable.
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For example let's say you buy a home from a builder, and after the purchase you find out the builder forgot to pay the roofer. So, the roofer files a lien against your property. Without title insurance, you're responsible for paying that debt.
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Your lender understands the value of title insurance, which is why they require that you purchase a lender policy before they'll give you a mortgage. But the lender policy only covers the lender. In order to protect yourself, you need to get an owner's policy.
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What if you bought a house for cash?
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Can you really say with all certainty that the title you receive from the seller is valid?
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That there's no chance they could be taking your money for a property that wasn't legally theirs to sell you?
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Are you willing to take that chance?
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Without title insurance they're all sorts of things that can come back to haunt you. Forgery, fraud, clerical errors.
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Are you willing to risk possibly losing your home, and your money, when the solution is a simple as an owner's policy?
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You pay for your owner's policy one time, at your closing, and never have to pay for it again as long as you own your home.
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It's the home buyer, or seller's decision to select a title company. Therefore, you can choose Amrock to make sure you're protected against existing debts, and future claims to your property.
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Remember, your owner's policy is a one time cost that you pay at closing, and you're protected for as long as you own your home.
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Don't take risks with the biggest and most important investment of your life. Call Amrock. We're happy to answer any and all questions you have.
With benefits like a single point-of-contact, easy and reliable communication, extended hours and the freedom to close on your schedule, we’ll help you complete one of the biggest deals of your life and save time where it counts most – at closing.
We’ve got the tools to navigate the title and closing process on your new home. Give us a call.