Whenever people purchase a home, they are always required to obtain title insurance for their lender who is ultimately providing their mortgage to them. Home buyers also have the option to purchase an owner’s title insurance policy for themselves which is highly recommended. An owner’s title insurance policy will ultimately provide some much-needed protection to your significant investment — your home. The horror stories associated with people who didn’t have an owner’s title insurance policy are devastating. People have even lost their homes as a result of not having the proper protections and title insurance in place to protect their interests. Here are some key things every homeowner needs to know when it comes to having an owner’s title insurance policy.
Title Insurance Protects Your Biggest Investment — Your Home
The home is most likely the largest purchase and investment you’ve ever made. Most people insure most large purchases like their car, health, and pets — so why not also protect and insure their home. An owner’s title insurance policy requires a one-time fee at the time of closing to make sure that your investment is always protected — particularly from any future issues that may arise and hinder your ownership rights in the property itself.
Reduce Your Risk
If you are planning on buying a new home, there are a variety of potentially hidden issues that can arise after signing the dotted line. Most problems go unnoticed until home buyers are fully moved into their new home. Getting yourself an owner’s title insurance policy can protect you from any unexpected legal fees that may crop up with a title defect or issue that may come up later down the line. Don’t think this would ever actually happen to you? Well, you definitely will want to think again — these issues can arise at any time and there is nothing you can do if you are not protected with an owner’s title insurance policy.
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, LinkedIn, and Google+.