Real Estate Matters with Tim Bro
Why Do I Need Owner’s and Lender’s Title Policies?
A common question that buyers ask their real estate agents is, “Why do I need an owner’s title policy and a lender’s title policy?
Insuring title begins with a search of public records to determine that title to the property is insurable – that, among other things includes:
· Deeds contain no incorrect names or wording
· Any outstanding mortgages, judgments, or liens against the property that will need to be paid at the close of escrow
· Any pending legal actions against the property that could affect buyers
· Any defects on the title that need to be addressed
Simply put, title insurance protects against financial loss from defects in title to real property – for mortgage lenders as well as buyers.
To get started with your home sale or purchase, call Tim @ 858-354-2354, “The Right Choice in Real Estate”.
When Real Estate Matters, contact Tim. BRE #01224576