File this away as a (very) EZ future read.
Every post I’ve seen explaining “title insurance” to a buyer is way too much TMI”; buyers’ eyes glaze over, and they get overwhelmed.
And worse, they get distracted from listening to their agent as they explain the more essential concepts about the rest of the transaction.
Let me make both of our jobs easier.
This post is a 90-second read (tops). I kept it brief by only featuring
details that pertain to a sales transaction. I omitted details about refinancings, as future MLOs can educate the (then) homeowners later.
A shout-out to Christy Coffey, Assistant VP at Pacific Coast Title, who contributed to the publishing of this post. You can follow Christy on Linked In or reach out to her via email at CCoffey@pct.com.
How Title Insurance Protects Buyers
- When purchasing a home, title insurance provides peace of mind for buyers and ensures the transfer of money from the buyer and seller.
- The seller pays for the title policy in many regions of the country.
- However, buyers must purchase their own ALTA policy, which their lender will require.
When it comes to a home’s title, a claim is serious, and a loss means homeownership is threatened. When there is a loss, it is usually significant—sometimes in the hundreds of thousands of dollars.
Title Insurance provides a lifetime protection from:
- Errors in public records
- Unknown Liens
- Illegal Records
- Missing heirs
- Forgeries
- Undiscovered encumbrances
- Unknown easements
- Bounders/ Survey Dispute
- Undiscovered wills
- False impersonation
- Shopping Title Insurance Prices in California
- Note: Typical discounts are for disabled and military families
Homebuyers should always ask price questions, what’s included in their coverage, and any discounts available when purchasing a home or refinancing their current mortgage.
Below is my cell number –
I personally pick up the phone – 24/7
Daniel Dobbs (.org)
Cell: 949 250-3981
