Where To Begin
Checking Credit
Research Before Choosing A Neighborhood
Check the Zoning
New Home Or Resale?
Think You Don't Need Flood Insurance?
Used Homes
Do I Need Title Insurance?
Be Alert For Sellers’ Tricks
Recruiting The Experts
Choosing A Real Estate Agent
The Foreclosure Market
Buying? Think Selling!
ALWAYS—ALWAYS Hire a Home Inspector
Be Your Own Inspector
Partnership Purchases
Financing Tips
Can't Afford A Down Payment?
Negotiating Tips
10 Tips For Winning A Bidding War
Homebuying Checklist
Home Warranty Tips
Can You Afford the Home You Want?
Green Building Tips


Protect Your Home InvestmentDo I Need Title Insurance?

Many home buyers are confused about their need for title insurance and the coverage it offers. While title insurance is usually required by the lender, it only covers the lender’s interests. Home buyers wishing to protect THEIR interests should purchase Owner’s Title. Such a policy usually covers the cost of legal fees associated with defending the ownership of the property and protects the owner from claims which may surface after closing or which may not have been known at the time a title search was done. Examples of such claims are: Missing heirs, forgery, easements, liens for work performed, special assessments, or other such claims arising which might threaten ownership.

Owner’s title is relatively inexpensive—the cost is based upon the selling price of the property—and is best purchased at the time of closing. It’s also a one-time purchase that covers the property for the full term of ownership. Most closing attorneys or title companies can quote the cost prior to closing. When compared to the risk of losing the property or the cost of hiring an attorney to defend your claim, it is well worth the money spent. I never purchase property without protecting my interests with an owner’s title policy.


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