Buying a home is one of the biggest purchases you will make in a lifetime. That kind of purchase brings with it a lot of joy and pride but also a good deal of stress. Jacob Title LLC knows that finding the right home is just the beginning. Do you know what to do and what you should know when it comes to Title Insurance? Let our professional team help guide you along the way.
Before you go through the process of finding the right Title Company, first let’s look at what Title Insurance even is. According to Wikipedia, Title Insurance is “a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceable of mortgage loans.” Did you get that? Many home-buyers aren’t aware that they even need a title company until they were told so by their realtor.
Buyer’s Choice
Selecting the right title insurance company is very important. As the home buyer, it’s your choice which insurance provider you use. The decision is not up to the Seller, Realtor or the Bank. When looking for a title insurance company, you want one that is experienced, listens to your needs, and one that is known for being financially stable. While many title companies have been around for decades, not all of them have. Know who you are doing business with. Some realty companies have “in house” title insurance providers but these can be tricky. Not only can you end up paying more but receive less in service.
Do Your Research
When looking for a title insurance provider, there are details that should not be overlooked. Check in to the different services they provide and see what they can bring to the table. You want a provider that will help you look out for your best interests in protecting your investment. Are there hidden fees? In most cases, insurance fees are regulated by that State’s Insurance Dept., but “added on” and extraneous fees can sometimes make all the difference between your company choices. Be sure to look for things like recording, tracking, courier, and overnight delivery fees. Fees for additional work are also not uncommon in these types of contracts. Ask the questions and see how they listen. No one wants to choose a company only to be ignored when it comes to questions and concerns.
Choosing the right title insurance company can lead to a successful closing. Because many aspects can go wrong during a real estate transaction, it is of the utmost importance that your title company be experienced in all parts of the closing process. Stan McDonald, founder of Jacob Title LLC, has over 30 years in the real estate industry and is ready and available to assist in your home buying adventure. Contact us today and let us help you.