Real Estate Lawyer Tip: Don’t Risk Not Having Title Insurance | Ckezepis Law, PLLC

Real Estate Lawyer Tip: Don’t Risk Not Having
Title Insurance

One of the topics that is usually foreign to first-time home buyers is the difference between a title search and title insurance. An important tip from a real estate lawyer is that you need an understanding of the difference between them and why they are both important.

An important tip from a real estate lawyer is that you need an understanding

A title search is completed to make certain that the legal ownership and right to use the property can be transferred to you upon closing. There can be many different types of title defects and if any exist, they will need to be cleared up. A title search is an examination of public records regarding the property and will be required by your lender as they don’t want to fund a property with a title defect.

Despite best efforts, even an experienced title searcher can miss a title defect and there are some issues that might not show up when searching public records. To safeguard against the risk of this happening, you should purchase a title insurance policy. Your lender has skin in the game and will require you to make this investment, but even if you are making a cash purchase, you should spend the few extra dollars it costs to secure title insurance.

Here at Ckezepis Law, PLLC, as your real estate lawyer, we highly recommend title insurance even for cash transactions because it is affordable and provides peace of mind that your property won’t be threatened by a defective title in the future. Without it, you could lose your home and all money you have invested in it. It just isn’t worth the risk. If you have any questions about title insurance or other aspects of residential closings, don’t hesitate to contact us.