At Colony Title, we understand that an investment in your dream home is an important milestone within your life. Perhaps you’ve spent months scoping out neighborhoods, searching for features within each home that you’ve viewed, and worked with a real estate agent to place an incredible offer on your dream home. An important component of placing an offer, confidently, is an investment in title insurance. This can help protect your property, and your investment, from legal claims that may arise. Here’s a few frequently asked questions that Colony Title hears from homebuyers.
What is a Title and Why Do I Need Title Insurance?
Think of a title on your home as your guaranteed right to homeownership of your property. During the home buying process, after you’ve placed an offer upon your future home, a title search is performed to ensure that your home doesn’t have any title issues placed upon it. These title issues can be: outstanding liens against the property, debts, and other miscellaneous title issues. Colony Title can address these title issues accordingly prior to closing. By investing in insurance, you can protect your home and secures your property rights.
What Types of Title Insurance Are There?
There are actually two types of title insurance available to purchase. First, there is lender’s insurance. This particular type of insurance is required by the lender but solely protects the lender’s financial interest if a title issue may arise. To wholly secure your financial investment within your house and your property rights, homebuyers should invest in owner’s title insurance. Owner’s title insurance completely protects homeowners from certain future legal claims that may arise surrounding your title and property rights. This coverage is extended to the homebuyer and their heirs for as long as they own the property.
How Expensive is Title Insurance?
The purchase of lender’s title insurance and an owner’s title insurance is a one-time investment that secures your property rights as an owner so long as you own the property. Upon closing, you receive the keys to your new property and total peace of mind that you’ll be free of any title issues that may ever occur. Title insurance is an affordable investment that can provide your family with a stable sense of security in your new home — that’s priceless.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, and LinkedIn.