Buying a For Sale By Owner (FSBO) and the Importance of Title Insurance

When buying a for sale by owner (FSBO) property, it is incredibly important to hire a title insurance company to perform a title search and also purchase owner’s title insurance. This is because when you buy a property directly from the owner, they are not required by law to provide you with a proper seller disclosure or adequately disclose any encumbrances that may be on the subject property.

This puts you, the buyer, at risk!

Hiring a title insurance company to perform a title search and provide you with owner’s title insurance helps protect both you and your investment. Title Insurance is a one-time fee, there’s no deductible, and it covers you for the lifetime you hold financial interest in the property. So why wouldn’t you purchase owner’s title insurance?

In today’s economy, homeowners are attempting to cut costs when selling their property in order to maximize profitability. Because of this, FSBO properties are becoming more and more frequent.

Hiring a title insurance company will ensure that all outstanding judgments, liens and taxes will be taken care of at closing and that you buy a home free and clear of all liens. So if you are buying a FSBO property and are in need of a title insurance company, contact Colony Title Associated today to learn more about Owner’s Title Insurance.

The Maryland real estate insurance experts at Colony Title Associates can be reached by calling 410 884-1160 or visit ColonyTitle.com today!

About Colony Title Associates:

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the area.

Colony Title specializes in real estate title insurance, real estate settlement services, and real estate closings in Baltimore, Columbia, Maryland, Washington DC, and Virginia. Our staff consists of licensed Title Insurance Agents, Real Estate Agents, Settlement Processors, & Attorneys to handle all of your real estate needs.

You can also follow Colony Title on FacebookTwitter, and LinkedIn.

Sources:

Buying a FSBO

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