Why You Need Title Insurance

Many homebuyers think that paying for title insurance at closing is a waste. If you think that this is an unnecessary expense, this couldn't be further from the truth. Title insurance can help keep your investment protected in many ways. To learn more, keep reading.

Know What You're Paying For

Before you close on a home, you will have to get title insurance. When you make this purchase, your providers will run a title search. During this search, they will exhaustively search records of the home to ensure there are no clouds, liens, defects, or any such issue that can lead to issues once you're the homeowner. This will make you feel much more at ease since buying a home requires a hefty investment.

Protect Your Investment

After buying the home, some issues can still come up that didn't get picked up during the title search. These issues can turn into a headache for the current homeowner. For example, let's say an heir to the property shows up and claims they weren't told about the home sale. The house technically belongs to them. This would mean financial losses for you and potential court fees to get it all sorted out. In these sorts of cases, your title insurance should have you covered. They will take care of the fees associated with these issues and they may even cover your losses, depending on your coverage.

It's Required By Your Lender

Finally, there may be no escaping getting title insurance if you're getting the help of a mortgage lender. Since it's their money on the line, they will require title insurance in order to lend you the money to pay for the home. This isn't a bad thing at all since you will be covered by your insurer in case something does come up.

Purchase Title Insurance in Plainview, Texas

Whether you're buying or selling, be sure title insurance in Plainview, TX is included in your home sale. To learn more about this, contact the title insurance experts at Countywide Title at (806)293-8363.


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