Mortgage title insurance is one of the standard steps required for home buyers after closing on a home purchase. Title insurance company in Blissfield, MI providers highly recommend it as crucial for any homebuyer because it is designed to protect you and the lender from the possibility that your seller does not, or previous sellers did not, have free and clear ownership of the house and property. This would in turn mean they could not legally transfer full ownership to you. Though the chance of calling on the insurance for coverage is relatively low, the value of what you stand to lose if you go without said coverage is high. You might even lose the house itself if you fail to get the coverage you need.
What it Can Do
No preliminary title search, no matter how complete, can account for paperwork filed under misspelled names or previously unknown wills that reveal a claim concerning the property. However, title insurance companies in Blissfield, MI. can help you defend such claims, and, if all goes well, might even resolve the matter against whoever brought it up in the first place. Prestige Title Insurance Agency is a great option when you want to get in touch with a provider with the reputation and experience needed to give you peace of mind the moment that you get coverage.
Get a Preliminary Report
Although a preliminary title report may not be 100% effective in every single case, it is still a fantastic tool utilized to catch potential title threats early. Your title insurance company in Blissfield, MI. will perform this report as its priority before issuing the policy. Depending on the state you live in, this may be performed by an attorney instead. The search involves combing through countless public records concerning the house including past deeds, wills, trusts, divorce decrees, and more. The trouble you save yourself in the long run by having such a report done should dramatically reduce your frustration and increase your peace of mind.
