What is title insurance? Why does it matter? I’ll go over three reasons why title insurance is so important today.
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What is title insurance and why is it so important?
Title insurance identifies who the seller of the property is and if there are any other sellers involved in the transaction.
Title insurance also helps identify any liens on the property. As a buyer, you don’t want to assume any liens from the past owners.
As a seller, have your agent pull a prelim report before you put your property on the market. That way, you can identify if there are any liens against the property that you might not know about. Maybe you did construction 10 years ago and didn’t pay the contractor; it is then within the contractor’s rights to put a lien on your property. Other liens may come from the IRS or unpaid child support.
Basically, the prelim report helps you know what those liens are up front so that it doesn’t mess with your net profit.
If you have any other questions about title insurance, give me a call or send me an email. I would be happy to help you!
Title insurance identifies who the seller of the property is and if there are any other sellers involved in the transaction.
Title insurance also helps identify any liens on the property. As a buyer, you don’t want to assume any liens from the past owners.
Title insurance identifies any liens on the property.
As a seller, have your agent pull a prelim report before you put your property on the market. That way, you can identify if there are any liens against the property that you might not know about. Maybe you did construction 10 years ago and didn’t pay the contractor; it is then within the contractor’s rights to put a lien on your property. Other liens may come from the IRS or unpaid child support.
Basically, the prelim report helps you know what those liens are up front so that it doesn’t mess with your net profit.
If you have any other questions about title insurance, give me a call or send me an email. I would be happy to help you!
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