Before closing on a home, a standard precautionary and critical step that must be taken is purchasing title insurance. While a title represents the ownership of a property, title insurance is vital to a homebuyer as it protects both you and the lender from claims that have been, or in some cases will be, placed against the property. Without title insurance—which is different from either homeowners insurance or mortgage insurance— you are putting yourself, your family, and your home at risk.
Here are 4 reasons to buy title insurance:
- Without a clear title, you may lose your home.
A home is likely the single largest acquisition you will ever make, so protecting your investment and personal property is a must. If you choose to forgo your right to title insurance and a claim is later filed against your property, you could end up not only losing your home and property…
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