If you’re buying a new home in Montgomery County, you’re probably wondering whether or not you should get title insurance. You’re not required to purchase title insurance for yourself, but you do have to for the lender. And it’s a good idea to get it for yourself for a number of reasons. Here are five great reasons to get title insurance in Montgomery County for your new home.
Five Reasons to Get Title Insurance in Montgomery County
It can clear up certain issues right away.
There are a number of title issues that can be cleared up right away when you purchase title insurance in Montgomery County. This is because the title company will perform a title search that looks for discoverable issues with the title. These include things like unpaid taxes and liens on the title. Even though these were levied on a previous owner, they will become your responsibility if you purchase the home unaware that they exist. Your title company in Montgomery County takes care of these issues before you buy your home.
It protects you from title issues that can’t be discovered.
Some problems with a home’s title just can’t be found, no matter how much searching is done. These include problems related to fraud, forgery, or a misplaced record. Title insurance protects you from these issues.
You don’t have to worry about claims on your title.
A claim on your title is when someone who has a legitimate stake in the ownership of the property tries to claim this stake. If you don’t have title insurance in Montgomery County, this will cost you a lot of money to take care of, not to mention the fact that you could lose your home. Title insurance protects your from claims on your title so you can be worry-free.
Your lender requires title insurance.
Your lender will require that you purchase title insurance for them. They know the value of title insurance in Montgomery County.
You can take care of it as part of your home purchase.
Adding title insurance to the purchase of your home is easy to do and well worth it in the long run.
About Colony Title Associates:
Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings in Washington DC and the Delmarva area every year. 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 Baltimore area. If you have any questions concerning issues that Baltimore title insurance protects you from, feel free to contact us at 410 884-1160 or visit ColonyTitle.com today!