Title insurance is the protection a buyer needs when they purchase a property. When purchasing a property, your actually buying a title which is proof of ownership for that property. During the process of purchasing of home, it is in the buyer’s best interest to have a reputable Title Insurance Company, such as Siesta Title, investigate the previous titles of a property.
This will make sure that there are no other claims of ownership or possible liens associated with a given property. If you’re utilizing a loan to purchase the home, the mortgage company will require title insurance. This ensures the protection of both the new buyer and the mortgage company. If there is no mortgage company involved, and the purchase is made with cash, it is just as important to hire a title company to perform a title search to protect the investment of the new buyer. Why would you spend 100,000’s of dollars and not protect yourself and your investment... It just doesn't make any sense!
Once the title company has performed the search into the properties history and there are no prior claims to the property then the new buyer can move forward with the purchase. The title company will issue the new buyer a title insurance policy. This means that the policy is guaranteeing that the property is free from any liens or any other ownership that may have been missed from previous searches made by other companies. Title insurance is a great benefit to all parties involved in a real estate transaction as it provides protection for the seller, buyer and lender.
If you're looking for more information regarding title insurance, feel free to contact us directly @ (941) 889 - 7744.