Title insurance is designed to protect your property investment against threats that may transpire at different stages. It can protect you during refinancing, property resale and construction. Once property ownership is transferred, the new owner should purchase title insurance to protect their ownership rights.
Buying a short sale can look like a great opportunity if you are looking to buy a property at a reduced price. However, a short sale often comes with a number of disadvantages. The process of buying a short sale is much more complicated as compared to buying just any property.
Along with property values, allied industries like title insurance are also on the rise. Title insurance is now worth $15 billion and is forecasted to grow in the future.The numbers clearly show that homeowners are investing in title insurance.
As the name suggests, title insurance is the insurance on the title of your property. It is a form of indemnity insurance that keeps the owner of a property safe from the financial loss they may have to bear in case there are defects in the title of the property. Title insurance is usually purchased when you go and get a mortgage.
Most people when buying or selling a home will first think about retaining a realtor, and selecting a mortgage loan financial organization, and then a professional home inspector.