Comments Off | Friday, June 4, 2010
Buying a home is one of he biggest investments you’ll every make. You will want to protect your investment during the purchase transaction with title insurance.
If you won the land that the house is on, you have a strong right to the property. But if others have rights to it through liens, unpaid taxes, or mining rights, they are also part owners of the property. Even if you know nothing about these risks, as the homeowner you are still vulnerable to such claims on your property.
Title insurance which protects against claims on your real estate by others, requires that certain risks be eliminated before the policy takes effect. It then covers hidden risks thereafter. If you have to go to court in regard to your property, the title insurance company will pay for your legal counsel. If you lose your rights, you should be protected up to the amount of the policy.
Make sure you discuss a title insurance policy with your title company.
When you are ready to buy a home, call me. As your real estate professional, I’ll be happy to help you through the process.