Imagine this scenario: you've settled into your dream home, enjoying the peace and comfort it brings, when suddenly, a knock on the door disrupts your tranquility. It's a construction contractor claiming you owe them $50,000. What would you do?
Sadly, scenarios like this can and do happen. But fear not, there's a solution to safeguard your investment and your peace of mind: title insurance.
Here's what you need to know to ensure you never find yourself in this predicament:
Title Search and Owner's Title Policy:
Whether you're financing your purchase or paying cash, obtaining a title search and owner's title policy is non-negotiable. A title search involves scrutinizing the property's history to ensure there are no existing liens or claims against it. An owner's title policy acts as your shield, protecting you from any undiscovered claims or defects in the property's title.
Protection Against Liens:
In the event that a title search overlooks a lien on the property, owner's title insurance steps in to cover you. Without this protection, you could be held liable for the outstanding amount, potentially facing financial strain and legal battles.
Lender's Title Insurance:
If you're financing your purchase, your lender will likely require lender's title insurance. While similar to owner's title insurance, lender's title insurance protects the lender's interests rather than yours. However, opting for owner's title insurance is highly recommended to safeguard your investment comprehensively.
Peace of Mind:
By investing in title insurance, you're securing peace of mind and protecting your investment from unforeseen complications. It's a small price to pay for the assurance that your homeownership journey remains smooth and stress-free.
Don't leave your investment vulnerable to risks. Prioritize a title search and owner's title insurance when purchasing real estate. Whether you're financing or paying cash, this essential step ensures your ownership rights are protected, and you can enjoy your home without the fear of unexpected claims.
For more insights and guidance on navigating the intricacies of real estate transactions, reach out to Terry Roberts at TerryRoberts.com. Don't let uncertainties jeopardize your homeownership dreams. Take the necessary steps to secure your investment and embark on your journey to homeownership with confidence.
Terry Roberts, USMC Veteran | Sr. Mortgage Broker NMLS 397987 | E Mortgage Capital
With a rich background spanning over a decade in the mortgage and real estate sectors, Terry Roberts has become a cornerstone in guiding over 10,000 clients through the complexities of the home purchasing journey in the United States. His expertise covers a broad spectrum of housing loans including conventional, FHA, VA, and cutting-edge new construction financing options.
Emerging from challenging early life circumstances, including teenage parenthood, dropping out of high school, and facing homelessness, Terry's determination led him to serve in the US Marine Corps. This decision was driven by a commitment to safeguarding freedom and securing a better future for his family. His active duty service in the US Marine Corps, marked by nearly a decade of dedication, instilled in him a profound desire to assist fellow Americans in achieving homeownership, a cornerstone of the American dream that he fiercely believes in.
Terry leverages his profound understanding of the real estate market to empower individuals in their pursuit of property ownership as a strategic investment for wealth generation. His journey from adversity to becoming a beacon of hope and guidance in the real estate domain is not just inspiring but a testament to his commitment to his clients' success.
Connect with Terry Roberts, a proud USMC Veteran and Senior Mortgage Broker (NMLS 397987), for expert guidance on your path to homeownership. Visit www.TerryRoberts.com at E Mortgage Capital, where every client's dream is approached with the respect and dedication it deserves.
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