Discover why real estate title insurance is essential for protecting your home investment. Learn about owner’s title insurance and how it safeguards you from potential title defects.
When it comes to buying or selling a home, real estate title insurance is often an overlooked but essential part of the process. While everyone wants to keep as much money in their pocket as possible, skipping title insurance could lead to costly problems down the road.
So, do you really need title insurance? The answer is a resounding: YES!
Here’s why: When you purchase a home and take out a loan, your lender will require lender’s title insurance to protect their investment. But that’s not enough. Just because the lender is covered doesn’t mean your interests are. Wouldn’t you want to protect your largest investment too?
Lender’s title insurance safeguards the lender’s interest in the property, ensuring they’re protected against any title defects, liens, or mistakes. However, it only protects the lender, not you.
Enter Owner’s Title Insurance.
Think of an owner’s title insurance policy as peace of mind for you, the buyer. When you purchase a property, the title is transferred by a warranty deed, with the seller assuring that the title is “free and clear.” But what happens if there’s an undiscovered issue—like an old lien or a legal dispute—lurking in the title’s history?
While you may think that any problems would fall on the seller, that’s not always the case. Without an owner’s title insurance policy, any title issues become your responsibility. And that could mean expensive legal battles, loss of the property, or worse.
But when you invest in owner’s title insurance, you gain protection. If a title defect arises, your policy will defend you, covering legal costs and potential financial loss.
Think of it like the saying, “Better safe than sorry.” Title insurance is a one-time fee with lasting benefits—protecting the property you’ve worked hard to buy. And since you never have to renew it, it’s one of the smartest investments you can make in your future.
Bottom line – Don’t gamble with your property. Invest in real estate title insurance and ensure that your home remains a safe and secure place for years to come.
Call or text Title Junction, LLC at (239) 415-6574 to inquire about the right title services for your real estate transaction.
Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties.
Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Understanding the Role of a Notary Signing Agent in Real Estate Closings