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Why You Should Seriously Consider Hiring a Title Insurance Agent

Monday, February 22, 2021

Are you concerned that there might be a setback in the final stages of your home buying process? Do you want more assurance that the title you're inheriting isn't rightfully owned by someone else? If so, then you need a title insurance agent.

Doing so can help ensure that you're protected from any nightmare situations with your title. If your title is sabotaged due to such things as wills, liens, or taxes, title insurance has your back.

See below for an in-depth guide on why you should seriously consider hiring a title insurance agent the next time that you invest in a property. 

Protection From Unforeseen Circumstances

Unlike other forms of insurance, title insurance is more proactive than reactive. For example, an auto insurance policy is reactive in the sense that it only provides coverage after an incident has occurred.

Title insurance is proactive. Title insurance providers perform a title search from public records to make sure there isn't anyone who already has legal claims to the house.

How is this beneficial? Because it catches the problem before it sabotages your future in any way. If left unchecked, you might have the rightful heir of your property show up at your front door 5 years into your ownership of the house.

More importantly, this protects both mortgage lenders and homebuyers (you). By performing the title is valid and void of any previous claims against it, you and your mortgage lender can have more peace of mind in the final stages.

You may have heard of such claims as:

  • Encumbrances- a claim made against your property by someone that isn't the owner, such as an easement.
  • Liens- a legal right by a creditor to take the property and sell it as collateral for a failed contract, such as a previous mortgage on the house.
  • Taxes
  • Wills- Trusts or wills by previous owners that claim the rightful heir to the property. 

Accountability for the Mortgage

Are you looking for ways to add more accountability to the mortgage? Perhaps you're wanting to make sure that you receive the funding you need before you officially take ownership of the house.

If so, then a title insurance agent can be your saving grace. Part of our service entails escrow services. In other words, we act as a third party—between you and your future mortgage lender—to monitor the payments on both sides of the agreement.

This is why sellers tend to request proof of title insurance. They want to make sure that the mortgage is completely paid off before the buyer gets to take over possession of the property. 

We will hold onto the deposit on the home until the closing is final. At that point, we will make sure that all funding is properly swapped.

It's a great way to make sure you and your mortgage lender get off to a good start. Our title insurance services can ensure that you find a provider who is truly looking out for your best interests. Not just their own.

High Return on Investment

A one-time purchase. That's all that it takes to make sure that you're protected from any defects in your title, to receive escrow services, and wrap a beautiful bow on the closing of your future home.

Once you pay for our services one time, we will help you experience a stress-free closing process. All of the financial aspects will be overseen by our experienced agents.

One of the most common claim issues is when a conflicting will has been drawn up. If you don't have title insurance in place, then you risk losing your property without any financial compensation for it. 

After investing in our services once, you'll have financial protection whenever you need it most. We will cover any losses that you might experience due to the defects in your future home's title.

Choose Your Coverage

At Heartland Abstract, we believe in letting you choose the coverage that you need for your title insurance. 

We offer two different types of policies—standard and enhanced—to let you choose what coverage you need for your property.

The standard insurance covers the most common title insurance setbacks such as:

  • Defective recording in documents
  • Improperly signed documents
  • Someone else rightfully owns an interest in your home's title
  • Restrictive covenants
  • Duress, forgery, or fraud in the title's history
  • Liens in your title such as a deed of trust, an unmarketable title, and so on.

The enhanced insurance plan covers all those outlined in the standard plan, as well as the more uncommon forced removal situations such as:

  • Unrecorded liens by the HOA
  • Unrecorded easements
  • Violations of building permits
  • Post-policy forgery or encroachment
  • Inconsistent maps with legal descriptions
  • Restrictive covenant violations

The enhanced plan also allows such benefits if you ever experience these incidents such as:

  • Paying rent for substitute land
  • Lifetime insurance coverage
  • Post policy living trust coverage
  • Plain language statements of the policy's coverage & more

We want to help you find a policy that fits your budget and preference. Reach out to us so that we can help you find the perfect title insurance to help you close on your home.

Invest in a Title Insurance Agent for Your Property

Now that you have seen all of the different benefits and reasons that you need to invest in a title insurance agent, it's time to find the right one for the job!

Visit this page to read more information on all of the things you need to do before you buy your next home.

For more inquiries, please be sure to reach out via our contact us page and we will be happy to assist you further.

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