Buying a home is a significant investment that requires careful financial planning and protection of your assets. One of the best ways to safeguard your investment is through title insurance. Title insurance protects home buyers against any defects or issues related to the property’s title.
This blog post will discuss the importance of title insurance in Everett, WA, and why you should consider it when buying or selling a property.
Protects Your Investment
Homebuyers invest a significant amount of money to buy a property. Title insurance provides security by protecting the home’s value, mainly when the purchase involves a mortgage lender. A lender requires a title insurance policy to protect their investment in mortgage loans. Without the policy, buyers risk losing their investment should any defects arise in the property title.
Saves Time and Money
Title insurance from Ticor Title Company helps save you time and money as it eliminates the need for costly legal fees or unexpected costs related to the title’s ownership. The policy covers the financial costs of any legal issues that may arise and avoids delays in the ownership transfer process.
Covers Future Risks
Title insurance in Everett, WA, covers future risks that may arise even after the property purchase is complete, such as undiscovered forgery, missing heirs, or fraudulent notarization. It offers ongoing protection, providing you with the reassurance necessary as a property owner.
Requirements by Lenders
Most mortgage lenders require title insurance as security for their loans. The insurance policy is mandatory for the loan approval process, thus a critical factor in property ownership. In Everett, WA, banks need title insurance to mitigate risks and ensure that the property has a clean title.
