What Does A Title Company Do?
A title search is a crucial but behind-the-scenes part of the home buying process. I’ve asked a local title insurance expert what buyers should know about their services — and the valuable role they play in keeping buyers safe.
Q: First off, what is title insurance?
A: Title insurance is a type of insurance that protects buyers and lenders from loss due to snafus with a property title. The most common issues are back taxes, liens, and conflicting wills.
Q: What does a title company do?
A; Since a clean title is required for every real estate transaction, title companies complete a search on every title to check for claims or liens before a new title can be issued. Without title insurance, buyers could be liable for monies owed on the home long after closing.
Q: How much should title insurance cost?
A: The cost of title insurance ranges between $500 and $3,500, depending on where you live, the provider you choose, and the purchase price of your home.
Listen up, friends! Buying a home doesn’t have to be stressful! There are ways to avoid common pitfalls—title insurance is one of them. Hiring a stellar agent? That’s one too!