Title
What is it?
Title is your ownership right to your property.
Why does it matter?
No homebuyer wants to inherit existing debts or legal issues that could interfere with their property rights in the future.
How do you benefit?
Clear title allows you to use or modify your property.
Title Professional
What is it?
Title insurance professionals examine or research public records to see if there are any problems or defects that could cause you legal issues. They may also manage the closing process.
Why does it matter?
The title professional ensures the title search is completed, writes the title insurance policy and works to reduce your risk of ownership issues in the future.
How do you benefit?
Your title professional has your back. They sweat the small stuff so you don’t have to, giving you peace of mind.
Title Search
What is it?
A title search is an early step in the home buying process to uncover issues that could limit your rights to the property.
Why does it matter?
If a title issue is discovered, most often your title professional will take care of it without you even knowing. After the title problem is fixed, you are able to purchase owner’s title insurance.
How do you benefit?
The title search protects you from unknowingly inheriting a previous owner’s debts, legal obligations or other title problems.
Title Insurance
What is it?
There are two different types of title insurance: the owner’s policy and the lender’s policy. The owner’s policy is purchased by you, the homebuyer. While it is your choice, purchasing an owner’s title insurance policy is the best way to protect your property rights. The lender’s policy is usually paid for by you or the seller. It is almost always required by the lender and only protects the lender’s interest.
Why does it matter?
Sometimes undiscoverable defects can come up after the title search. Title issues may include forgery, fraud or clerical errors. Owner’s title insurance is the best way to protect yourself from losing your property.
How do you benefit?
Every year, the vast majority of homebuyers in America elect to protect the largest investment of their lives, and purchase owner’s title insurance. Owner’s title insurance protects your interests after you purchase your home.
Closing
What is it?
Closing is the final step in executing the home buying transition.
Why does it matter?
It is the process that allows the transfer of ownership to occur.
How do you benefit?
Upon completion of the closing process, you get the keys to your home!