When you’re closing on a house, you’re offered a ton of different things from home warranties to homeowner insurance to title insurance. Title insurance is one of those things that buyers get confused about because it seems to just be a backup to a title search, and do you really need both?
Short answer: yes!
Long answer: Title insurance protects you from a bad title for your property. The title says that you’re the legal owner of the property. But sometimes, the title will have issues like…
-outstanding liens
-back taxes
-conflicting wills
Any of these things can make your life difficult and expensive. With title insurance, you’ll be covered in the eventuality of something going wrong with your title. Even if you get a title search, which you should always do, things can and do turn up months after homes have been sold.
Your home is a huge investment, so it’s worth the extra cash for title insurance to protect you from the worst.
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