📜 What Does Title Insurance Actually Do?

Title insurance isn't usually the most exciting part of buying a house, which is probably why a lot of buyers reach closing without completely understanding it. The basic issue is ownership: when you purchase a property, you want confidence that an old ownership claim doesn't unexpectedly become your problem.

🔎 According to the Consumer Financial Protection Bureau, potential title issues can include claims involving unpaid taxes or contractors who say they weren't paid for work completed before you purchased the property. Lender's title insurance protects the lender's financial interest, while owner's title insurance is designed to protect the homeowner's investment.

💰 Title-related services are part of closing costs, and in many transactions some of those services may be shoppable. CFPB recommends comparing the bottom-line cost and understanding what is included rather than automatically assuming the default provider is the only option.

🏡 You're spending a significant amount of money acquiring ownership of a property. Understanding how that ownership is researched and protected is worth a few questions before settlement.

📩 Ready to start planning a home purchase? To talk with one of our agents, fill out the Contact Us form located at the bottom of our website here, mycoreteam.pro.