Should You Buy Owner's Title Insurance?
When you finance a home though a lender, you will be required to purchase title insurance to cover the amount of your mortgage loan.
Before the closing, the title company will order a title report to make sure that the sellers actually own the home and that no one else has an interest in the property. This process will identify the potential title problems or liens. Title insurance covers you against any future claims that did not appear on the title report. It is a one-time charge that you pay at the closing, which covers your future equity up to a stated maximum amount, as your property increases in value. Title insurance is one of those things you will probably never need, but if you do, you will really be glad you have it! It's a small price to pay to protect a major investment.
Our agents here at Sand Key Realty S & R, Inc. are here to help you with your future. Please give us a call at any one of our three convenient locations: 740 S. Gulfview Blvd., Clearwater Beach, (727-443-0032), 309 Belleview Blvd., Belleair (727-461-4200) or 2701 Gulf Blvd., Indian Rocks Beach (727-595-5441).
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