Title insurance in Coral Springs is something that all homeowners need, but don’t necessarily understand why they need it. It’s one of those pieces of paperwork you receive at the end of closing on your home, but what is title insurance anyway? One of the biggest benefits of working with a title agency is that you don’t have to know everything before purchasing your new home. With their help, you can be given explanations for anything you don’t understand. In this article, Expert Title Company is here to help you better understand the benefits of title insurance and how you can use it to your advantage. Keep reading to learn more!
What is Title Insurance in Coral Springs?
First and foremost, it’s important to get a better understanding of what title insurance really is. Title insurance, in essence, protected you from financial losses that can happen when you own a home. You’ll need to purchase a lender policy, which is used for your loan, but you have the option of buying an owner’s policy. Though it’s not required, it’s heavily recommended. Both of these additions are one-time fees, which must be paid upfront.
As a standard process when buying a home, the title company will do a check on the previous owner or current owners’ history. Ideally, new homeowners want a clear title, meaning that there are no claims, lender issues, liens, or credit problems attached to the previous owner and the home. Most individuals have titles that come back clean. In which case, why would one even bother with title insurance? The unfortunate truth is that title companies do their best to discover the dirt on any home, but that doesn’t necessarily mean that it will easily show itself.
What has happened to some, and could happen to you, is that after the sale and closing of the home, some new information could arise on the property purchased. There could be lawsuits pending, fraud attached to the property, or problems with the paperwork that old homeowners would like to identify and destroy. If for whatever reason, your home has a title issue even after your purchase, you could be facing significant legal fees, as well as the loss of the property. Because buying a home is such an investment, people tend to purchase title insurance, just in case anything should happen. With so much money down, the last thing anybody wants is for their home to be taken away from them for reasons that are outside of their control. Not to mention, dealing with a legal case that could easily be avoided isn’t anyone’s idea of fun.
What is the Cost of Title Insurance?
If you weren’t thinking about purchasing title insurance before, you’re probably thinking about buying title insurance now. There’s just one thing you’re probably considering: how much is title insurance? Fortunately, title insurance isn’t too expensive in the grand scheme of buying a home. You’ll notice that you’re spending anywhere from $1,000 to $4,000 for coverage, but remember, it’s a one-time fee.
Contact Expert Title Today
At Expert Title Company, we pride ourselves on offering affordable solutions to those looking to close on their home. We know it’s not easy to understand all of the various forms, paperwork, and add-ons, but with our help, we can show you the way! We specialize in titles, real estate closings, title insurance in Coral Springs, and more. Don’t waste another second trying to find a title company, when Expert Title Company is here to help you. When you need assistance the most, we’re the team on your side. Protect the future of your home and the future of your family with title insurance. You won’t regret staying safe and buying smart. For all of your questions and inquiries, we encourage you to call us at 954-570-5959.