Title Insurance

What is Title Insurance?

When you get ready to buy or sell a home, title insurance will often come in to play. Unlike most insurance though its a one time fee rather than a monthly payment. You pay a title company once for their research on the title and it protects you as long as you own the home.

When you apply for a loan the lender wants to make sure the seller has legal right to sell the property to you. They will insist on a title insurance policy. This cost is usually built into the closing costs of the home. The Title company of choice will research the deeds and title of the property as far back as they can go. They will verify that the seller has legal right to sell you the property and that there are no outstanding liens on the property that the sale of the home won't cover.

This is highly important as it protects you the buyer from any future issues you might incure from past situations. Instead of protecting you in case something DOES happen, title insurance protects you in case something DID happen that wasn't dealt with at the time. It is usually a policy that cost anywhere from $500 -$1000.

For more information on this topic or to learn more about title insurance and to find Title companies in the La Grande real estate area, please feel free to contact us anytime. Thanks!

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