Buying a home is not usually something anyone takes lightly or does on a whim. A great deal of thought and research goes into every choice, from neighborhood to realtor, yet you may not have spent any time at all worrying about title insurance.
Title insurance is something many people are unaware of, yet it exists to protect you as a homebuyer. Your title insurance company will search property records to verify that the seller actual owns the property free and clear and has the legal permission necessary to sell it to you. Once that step is completed, they will contract with an underwriting company and create an insurance policy that will defend you in court if anyone challenges your title and will compensate you for your equity if you should lose. You can see why title insurance is beneficial, but how do you know what to look for in a provider of this valuable service?
The average policy is pretty standard across companies, but even in an area like Florida where the costs are regulated, some companies may charge extra for courier fees or ancillary expenses, so be sure to ask about total transaction price, not just the cost of the insurance itself.
Be wary of a seller who is pushing you to use a certain company. A title search is meant to protect the buyer by finding errors before you buy. If you use the same company that your seller did years earlier, chances are you’ll get the same results. If a mistake was made once, it could easily happen again.
Conversely, seeking advice from your mortgage lender or title service provider is a wise choice, as the lender’s and title professional’s interests dovetail with your own. Setco is a proud partner withFidelity National Financial(end), their underwriting services are designed to check each detail and give our customers the utmost security and confidence.
Please visit this link to learn more about Fidelity’s performance record and to learn what Setco and Fidelity can do for you and your peace of mind regarding your home’s title.