For Homebuyers: A Guide to Title Insurance

What is Title Insurance? That depends on who you are.

Title insurance comes in two different forms: the owner's policy, and the lender's policy. The owner's policy is always purchased by the homebuyer, but the lender's policy can be paid for by either the buyer or the seller. The lender's policy is almost always required by the lender, and it only protects the lender's interest. Sometimes hidden defects arise even after a title search. A title search is an early step in the home buying process to uncover issues that could limit your rights to the property. Most of the time, your title professional will take care of issues that arise without you even having to know about it. Sometimes, however, hidden issues arise after the title search, as mentioned above. Issues uncovered can include forgery, fraud, or even clerical errors. Making sure you purchase an owner's title insurance policy is the best way to protect yourself from losing your property. 

"So, what exactly does this title professional do?"

Great Question! A good title insurance professional not only performs the title search for you and writes your title insurance policy, they also manage the closing process for you (Disclosure: All of Setco's title professionals are good ones!). Your title professional ensures that every part of your process, from the title search to the close, is managed in the best way possible, protecting you from loss and trouble, not only during the process, but for the long-run!

When you've found the home of your dreams, and you're ready to close, choose Setco, and one of our (very good) title professionals will make sure that your closing process is as perfect as can be!

Get Started today!