Marina Title Specializes in Florida Title and Settlement Solutions

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4 Ways Real Estate Transactions Rely on Title Insurance Agents

12 Sep 2015

When a client buys real estate, they want the transaction to go as smoothly and easily as possible. Lengthy closing times, hiccups and road bumps, unforeseen problems and other issues are far from welcome. This is why it is so important to have a professional title insurance agent on hand to ensure that the transfer of the title and deed goes as planned and unpleasant surprises do not occur. Here are four reasons why you should have a good title insurance agent in your corner.

 

Avoiding Surprises

A preliminary title search is part and parcel of every real estate transfer, but it doesn’t go into the deep detail that a thorough title search conducted by a qualified agent does. This kind of insurance will go into detail to find any liens, past owners and obligations against the property. It can also help to protect your interests should a sudden heir turn up and file a claim on the property.

 

Protecting Property Rights

The title insurance agent is there to make sure that the transfer of property from one owner to another occurs free of the transfer of debts and legal obligations. This means that if there are any liens, judgements or other issues in play, that they are resolved before the property changes hands.
The agent will perform a detailed search to discover and repair any past problems so that the title deed is completely clear when the property closes. In general, your title insurance policy carries a one-time fee that protects you so long as you own the property.

 

Efficiency in Property Transfer

Did you know that the property transfer system in the United States is the single most efficient one in the world? This is in part because of title insurance agents. Not only do they make sure that there are not liens against the property, they check for legal judgements, forgery and fraud issues, delinquent taxes and even unpaid child support, which could be held against the property.
The one-time premium you pay for title insurance makes sure that any surprises that come up later will be covered. Because such preventative measures are in place, however, title insurance claims are significantly less common than with other kinds of insurance. This is why the premiums are not paid monthly on this kind of insurance.

 

Reducing Home Ownership Costs

The total cost of home ownership is reduced because of title insurance. Because it serves as such a vital part of risk management in real estate transactions, this insurance allows lenders to offer mortgages at much lower rates than other kinds of loans. The next time you look at your interest rate and see 4 percent or less, that is likely because of the decreased risk due to title searches, lien searches and the preventative and risk reduction services provided by agents.
If you are purchasing property in Florida and would like to explore title insurance, we are eager to help. Email us at info@marinatitle.com or call 1 (800) 610-4750 for more information today.

 

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