Question 1

What is title insurance used for?

Accepted Answer

Title insurance protects your lenders interests and your own against a variety of issues, from boundary disputes and liens to encroachments and improperly recorded documents.

Question 2

How much does title insurance cost, and how often do I have to pay for the insurance?

Accepted Answer

Title insurance fees are not an ongoing expense. They’re only paid once, up-front. The lender’s policy is based on the loan amount; the owner’s policy is based on the purchase price of the real estate property. Both policies combined cost approximately 0.5% to 1.0% of the home’s purchase price.

Question 3

What exactly is title insurance?

Accepted Answer

Title insurance is a policy that covers the possibility of any third-party claims on a real estate property, claims that didn’t show up in a title search, but appear after closing on a property.

Question 4

What does a title search involve?

Accepted Answer

A title search involves the thorough research of public records about the property, to determine if there are any liens, encumbrances, or easements involving the real estate. At Premier Reputation Title Services, we gather and study a wide range of sources such as deeds, county land records, bankruptcy records, divorce records, tax records, and any other financial judgments that could be attached to a real estate property. We work hard to make sure there are no hidden claims or liens by parties - including those that neither the seller or buyer may even know about.

Question 5

How many years does a title search cover?

Accepted Answer

The title search always goes back in time as much as possible, often even before a home was built. It’s important to be this thorough in a title search, because title insurance is designed to protect both the property owners and lenders against unforeseen property claims.

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