This week’s video outlines everything you need to know about Title Insurance. Title insurance gives you assurance that possible clouds on title to the property you are purchasing have been pointed out and that such defects can be corrected before you seal the deal on the closing. Also, it is insurance that if any undiscovered claims arise out of the past to threaten your ownership in that piece of real estate, it can be disposed of.
It is incredibly important to receive clear title to the property when you are purchasing real estate. In order to do so, you must be informed of any existing rights or claims that may be asserted by any party against the title to the property. Any issues must be resolved or extinguished prior to your purchase so you can have peace of mind moving forward.
So is it optional? Well, technically yes – but not really. I don’t recommend skipping over this important piece of the transaction. It more than pays for itself (and likely the seller will be paying for it if you are the buyer) so it is added assurance on your end.