A title company hosts the buyer, seller, and financier of a real estate closing in one location to complete the sale and transfer of a real estate transaction. The title company usually provides title insurance which protects the property owner against loss if it is discovered that the title to the property contains a defect, usually found in the title search process.

A title search is an integral part of your home-buying process. During a title search, we search through public records (deeds, mortgages, liens, wills, etc.) and any documents that affect the property’s title. We verify the legal owner of the home and determine any and all debts owed against the property.

A purchase agreement clearly defines the terms of the real estate sale and what must happen before the property changes hands. It defines contingencies, such as what happens if a requirement is not met and the agreement must be cancelled, or who pays for property inspection and any defects uncovered during the inspection.

Title insurance, like all other insurance, is purchased to protect you when and if you need it. Title insurance protects property owners from any defects in the title of real estate or challenges to the title that may occur in the future. Real estate litigation is costly and burdensome, title insurance protects your investment in real estate and protects you against the future unknowns.

Yes. There are two different types of title insurance policies: owner's and lender's. An owner's policy protects you for the full price of your home plus legal costs if a title or ownership issue arises after you buy your home. This type of policy is issued for the amount you paid for your home, and will cover you as long as you own an interest in the property. You are not required to purchase an owner's policy. If you borrow money to buy your home or property, your lender is likely to require you to buy a lender's policy. A lender's policy only protects the lender if a title or ownership problem comes up after the property is purchased. A lender's policy is issued for the amount of the mortgage, and the coverage decreases as you pay down your loan. Unlike an owner's policy, the lender's policy ends when you pay off your mortgage. You may be expected to pay the premium for this type of coverage.

When purchasing real estate, your lender will likely require title insurance. The coverage allows the lender to sell the mortgage to their investors and keep more money available for other loans.