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Title Insurance = Peace of Mind

Shopping for a mortgage? We will be glad to help! Give us a call today at (215)741-3131. Want to get started? Apply Online Now.

Buying a home may be the largest investment you make in your lifetime. Before you close, you will want to know that no individual or entity has a right, lien or claim to the property.

A title company ensures that your new home won't surprise you with encumbrances and other legal obstacles.

You pay the title insurance company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title company searches the title history of the property. Through its research, the title insurance company can usually identify any title problems that may arise and clear up these problems before you close on the property.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:

  • Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend the title and will cost you nothing.
  • Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Many other complex problems define "Defective title." The title company will uncover these problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

Net Equity Financial Mortgage can walk you through the pitfalls of getting a mortgage. Call us: (215)741-3131.

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