We are grateful for our lenders and our goal is to provide title products and closing services that are streamlined, efficient, and cost effective. Our rates are competitive and we will honor and beat any quotes.
Why does a buyer or a lender need title insurance?
Title insurance is a one-time fee that is paid at the time of settlement. The purchaser receives an owner’s title policy that protects your most valued asset, your home, from fraudulent claims against your ownership, liens, and undisclosed heirs, which are just some of the reasons you need title insurance. This is where the assurances of title insurance comes into play and provides protection. Problems with the title can limit your use and enjoyment of the property, as well as bring financial loss.
Here are some common title problems:
- Fraud & Forgery
- Conflicting Wills
- Missing Heirs
- Incorrectly executed deeds by minors, corporations, heirs or non-entities
- The seller has fraudulently sold the property to another recent buyer.
- A prior seller has fraudulently sold the property to more than one buyer.
- The seller purchased the property while committing mortgage fraud.
- The boundaries may be incorrect and part of the property may actually be owned by an adjacent neighboring property owner.
- There may be an easement burdening the property which limits the use, which can decrease the value of the property.
- Structures on the property may encroach into valid easements or an adjacent property.
- There may be an older unrecorded deed transferring the property which is now recorded.
- The seller or prior seller may have outstanding personal judgments which could attach to the property.
- Foreclosure sale issues