A Handy Guide for the First-Time Home-Buyer


We’ve created a handy guide that should help first-time home-buyers navigate the often difficult road of purchasing a home.

Title insurance- it can be tricky for a relative newbie to understand. In fact, first-time home-buyers often struggle with the overwhelming feeling associated with such a large purchase. But title insurance is an important part of the purchasing process. As a result, we’ve created this handy guide that should help first-time home-buyers navigate the often difficult road of purchasing a home.

All the Jargon You’ll Need to Know

First things first- there are a lot of different phrases and words that will be thrown around. Really knowing what they all mean can be the difference maker when it comes to successfully purchasing your first home.


  • Title: A title is the document that proves an individual legally owns a property.
  • Escrow: Escrow is the period of time where a third party (like a title company) ultimately holds the funds for the home sale until the transaction is ready to be completed.
  • Title search: During the period of escrow, a title search is usually conducted to find any mishaps in previous titles for the property.
  • Lien: If someone owes money to someone else, that person (the lienholder) can ultimately become the new owner of the debtor’s property until the debt it fully paid off.


Title Insurance in a Nutshell

At the end of it all, title insurance isn’t all that different from other types of insurances. However, there is one important caveat- title insurance protects you from events that might happen in the future instead of the past. In fact, while title insurance is not simple, it is definitely worth it.

Different Types of Title Insurance

There are two different types: owner’s policies and lender’s policies. It has been said before, but each one is significant in its own right. If you happen to need a mortgage on your new home, your lender will usually require that you purchase a lender’s title insurance policy. This policy will ultimately be a protection for your lender. However, the owner’s policy is always optional. However, purchasing one protects your ownership rights in the property.

A Title Insurance Company You Can Trust: Colony Title Associates

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 and sell 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, LinkedIn, and Google+.

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