Yes, An Owner's Title Policy is the Best Way to Protect Your Home!

Though your first reflex may be to brush off buying an owner's title policy as you navigate your new home purchase, you should reconsider. Yes, you have your money and time tied up in so many other things that come with buying a house, but title insurance can protect all of the money you've put into the investment. 

"I don't want to spend extra on title insurance. What's the Big Deal?"

The big deal is that you may not know how title insurance works in the first place and may severely miss out on its benefits. Your mortgage lender's title insurance does not cover you. Also, title insurance isn't a recurring monthly payment but a one-time payment paid at the closing of your home buy. From then on, you're fully protected. 

The highest risk for buying a home without title insurance is the possibility of claims that may appear due to any issues with the deed. These claims range from the discovery that an owner didn't report the complete picture of the financials on one end and the surfacing of a forged deed on the other. Unknown heirs who hold previous claims can materialize to challenge ownership, not to mention any liens that may not have been appropriately reported. 

 "So What Do I Do?"

Take Title Insurance into serious consideration. Peace of mind aside, you will have your legal fees covered in the unfortunate event of legal challenges, and if the claim succeeds, then it provides a net to hold back any loss on your investment. Homestead Title is known for its guidance unique to each client and facilitating the particulars of purchasing title insurance and every other step of closing on a property along the way. We understand that buying a home is an anxious, confusing journey, and we're here to offer our expertise. If you'd like to discuss title insurance for your upcoming home or property purchase, reach out to schedule an appointment or call (504) 581-6427 to discuss your options.