Protection From Future Losses
I have bought and sold my share of houses since 2000. When I was married, we moved so often that it felt like we always had a house on the market. We even got to the point where we had specific professionals we liked to use regularly for our transactions. I am not sure we will be using all of the same people when we sell this current home, but that is simply because we are taking such a beating from the real estate market right now. I get so mad I could spit when I think about my ex’s timing on the divorce,… and the blasted real estate market condition.
If you have been involved in even one real estate transaction, you understand the importance of title insurance. When I was talking about having preferred professionals we worked with over and over, our title insurance company was one of those. On the whole, most title companies seem very much the same, but when you look a little deeper you will find that they differ greatly when it comes to reputation and community standing.
Basically, title insurance is your protection against the possibility that someone might come along who feels like they have some sort of legal claim to the property you have purchased, such as an inheritance or a lien. There are cases where someone purchases a property without knowing that another party had a lien on the property and that situation can get terribly messy. Title insurance covers the situation for future loss. You want to make sure the title company you are working with is thorough and reputable. That is why we tended to stick with one company over and over.
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