Buying a home is most likely one of the largest purchases you’ll make in your lifetime. During the closing portion of your home buying process, you’ll be opening escrow with a trusted company of your choosing. The Centric Title and Escrow team is well-prepared and happy to help you through the last part of your most important purchase and to make sure that you will be able to protect it.
Understanding Title Insurance
After we do a thorough search of public records to find any risks that may affect the title to your future property, we will issue a title commitment, which contains information that can affect your close of escrow. With all of this information at your disposal, you will then have the opportunity to purchase title insurance. Title insurance is a type of indemnity insurance that serves to protect you from financial losses that may result from defects in the title to the property you are buying. Title insurance is paid for only once at the close of escrow and requires no further fees to be paid for as long as you own the property.
Protecting Yourself and Your Home
Without title insurance, you will be at risk to any liens, encumbrances, and defects affecting the title to your new property. These threats could change what should be a cherished life-accomplishment into a legal nightmare. A title insurance policy will help pay for legal fees in defense of a claim against property covered under your policy to protect your investment. Your home is a highly valuable investment that should be protected for your present and future financial health. Just in the same way you wouldn’t drive a car without car insurance, you shouldn’t purchase a home without title insurance.