When you purchase a home title companies will do a title search of the property to help check for any conflicts or liens against it. This is an important process because of how big of an investment a home is. You want to make sure that the property is yours and no one else has a claim on it.

Here is why you need title insurance before and after you become a homeowner:

title companyTitle Insurance Protects Parties From Fraud

Title insurance protects you from financial loss related to the ownership of your property. There are two types of title insurance that are available, lender’s and owner’s insurance.

Lender’s title insurance ensures that the lender is given the priority of repayment and security interest over anyone else who may have claim in the property

Owner’s title insurance policies protect you against:

  • Fraud
  • Forgery
  • Undisclosed heirs
  • Spousal claims
  • Title defects

You can get additional coverage to

Some states regulate title insurance rates and in Missouri, “Section 381.019, RSMo, requires that a title insurer, agency or agent participating in a settlement or closing of a residential real estate transaction must provide a clear, conspicuous, and distinct disclosure of premium, abstract or title search and examination fees and other associated charges or fees; and escrow, settlement or closing fees.”

Research Title Insurance Companies

You have the right to select the company that provides title insurance! As such, do your research into different companies and choose the one that works best with you and your needs.

If the seller is pushing a specific insurance company, namely the one they used, be wary. If you use the same one the seller used there is a chance that you’ll get the same results, which are more summaries than actual documents. Fresh eyes will help catch any problems and allow you to address them before you go through with the purchase.

Start Your Search For The Perfect Home Today

Contact Eric Merchant At 314.541.1218