When people think of insurance, the word expensive usually comes to mind. However, that is not the always the case with the cost of title insurance. In fact, title insurance is a one-time premium that can even protect you after you sell your home. The cost of title insurance is paid at the time of purchase and is usually included in the closing costs. Contrary to other forms of insurance, there are no annual premiums or renewal premiums.
When you purchase North Florida real estate, you are actually buying the seller’s “rights and interests” in the real estate. In legal courses, property rights are often described as one large “bundle of sticks” with each stick representing a various right, interest, or use in the real estate. While these rights vary between the types of transactions, they typically include rights such as the right to use the property or the right to sell the property. These rights and interests are often not as clear as they may seem, because there are a variety of factors that can affect the seller’s title to real property. Our North Florida Title Insurance Agents can help you with a title insurance policy to ensure your rights are protected and that you have clear title to your property.
Buying a home is a complex process, and often one of the largest investments in an individual’s life. The process of buying a home is full of important details that should be considered carefully to ensure that each step in the process is clearly understood. One of the most important, and often overlooked, steps is purchasing a title insurance policy from a title insurance company. For immediate assistance with your real estate transaction or title insurance question, contact our North Florida Title Insurance Company today, or request a title insurance quote online.