5 Things to Know About Title Insurance

As you prepare to sell your home and move forward with an accepted offer and move toward closing, you’ll probably has some questions about what you can expect from the Title Company.

 

Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.

 

1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.

 

2. It’s a one-time cost usually based on the price of the property.

 

3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.

 

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.

 

5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.

 

For more information on listing and selling your home, please call me anytime at 608-333-3334. I am your real estate resource for buying and selling homes in Madison and the surrounding Dane County area.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s