Title insurance is an insurance policy that protects against loss if the condition of title to the land be different than what was insured.

When you buy a home, or any property for that matter, you expect to enjoy certain benefits from ownership. For example, you expect to be able to occupy and use the property as you wish, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell or pledge your property as security for a loan. Title insurance is designed to cover these rights you bargain for.

After all closing documents have been properly executed and returned by both parties in recordable form, the Buyer’s purchase funds have been cleared and confirmed as good and we have received proof of recording from the County Clerk, the net purchase price will be disbursed to the Seller.

An owner’s title insurance policy stays active as long as you (or your heirs) own the said property.

In essence, by acquiring your policy, you derive the important knowledge that recorded matters have been searched and examined so that title insurance covering your property can be issued.

 

Because title insurance companies are risk eliminators, the probability of exercising your right to make a claim is very low. However, claims against your property may not be valid, making the continuous protection of the policy all the more important.

When a title company provides a legal defense against claims covered by your title insurance policy the savings to you for that legal defense alone will greatly exceed the one-time premium.

This is really a personal preference. Many people like to schedule their closing at the end of a month. However, the best time to close is really within the first week of any month. Many lenders are willing to work with a new purchaser and give them and interest credit and reduce their cost at closing. It is also best to close earlier rather than later in the day. This assures you that your mortgage company or bank will be open and will be able to solve any problems that may come up in closing and assures you that the bank’s money will be wired in time.