Homebuyers can understandably be skeptical of costs they’re not familiar with during a real estate transaction. The American Land Title Association has provided the following tips for explaining the purpose and benefits of title insurance to buyers so that they can be more comfortable and confident.
What’s your role in my home purchase?
I am your title insurance agent (or closing/settlement agent) for your real estate
purchase. I will work to provide you with peace of mind during your home buying
process, reduce your risk and help protect your property rights.
How do you help protect my property rights?
Well, prior to closing on your home (or commercial property, farm land, etc.), my
office examines and verifies legal documents. It’s a complex process, but it’s
important because it ensures the title can be legally transferred to you, the new
Why is the process so complex?
It’s complex because we search public and private records looking for previous
liens, tax issues, unpaid child support, ownership disputes, forgery or fraud and
other possible issues that could affect the property. As you can imagine, this is no
And your search is good enough to protect my property rights?
Well, after our search, we then offer you an owner’s title insurance policy to help
protect your property rights.
Your mortgage lender will purchase a “loan policy” to protect their financial
interest in your home but only an owner’s title insurance policy protects your
interests in the home. Owner’s title insurance has a one-time fee, and protects
you for as long as you own your home.
It’s rewarding work because I sweat the small stuff to give you the peace of mind
Check out the ALTA HOP Resources on our blog for effective and accurate info, tools and materials you can share with your clients to give them peace of mind when making what is likely their largest investment.
All publications of the American Land Title Association are copyrighted and are reference herein by specific permission from the American Land Title Association (ALTA). http://www.alta.org/