Getting title insurance on your home is a way to protect your interests as a homeowner.
Why is title insurance so important if you’re a homeowner in Texas? I’m joined by April Williams of Fair Texas Title today to answer that question.
Title insurance insures a home buyer from financial loss in case there are defects in the title that weren’t found on the property. The kinds of items that can cause issues on a title can be from a divorce, a foreclosure, a death in the family, liens, judgments, and homeowners association liens. That’s why it’s so important for homeowners to get a title policy and do title research on that property so their interests are protected.
In a purchase contract, there are two title policies available if a lender is involved. First is the owner’s title policy, which protects the buyer of the property and their interests. Second is the mortgage title policy, which protects the lender until the loan is paid off. Title policy rates are standard across the whole state of Texas and are based on the sale price of the property involved.
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If you have any questions about title insurance or anything else about our real estate market, don’t hesitate to reach out to me. I’d be happy to help you.
Title policy rates are standard across the state.
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