There are many important aspects to consider when buying a new home. One of the most important is making sure that you are protected from any unforeseen events that may occur. This is where title insurance comes in. Title insurance protects you from any losses that may occur as a result of problems with the title to your property. Here are three reasons why you should buy title insurance when purchasing a new home.
To Protect Yourself from Preexisting Property Issues
The first reason to purchase title insurance is to protect yourself from any potential liens or encumbrances on the property. If there are any outstanding debts or judgments against the property, you could be held responsible for them. Title insurance will protect you from having to pay these debts if they are discovered after you have purchased the home.
To Protect Yourself from Fraud
Another reason to purchase title insurance is to protect yourself from fraud. There are many cases of people being scammed out of their hard-earned money when they purchase a home. If the person selling you the home is not the true owner, you could be left with a property that you cannot sell. Title insurance will protect you from this type of fraud and ensure that you are purchasing a property from the true owner.
To Protect Yourself from Unknown Liens
Another reason to purchase title insurance is to protect yourself from unknown liens. If the property you are purchasing has a lien against it that you are not aware of, you could be responsible for paying it. Title insurance will protect you from this type of lien and ensure that you are not responsible for paying it.
If you have any questions about title insurance, or if you would like to purchase title insurance for your new home, contact Title Partners of South Florida today. We are a leading title company in South Florida and can help you with all aspects of the home buying process. Contact us today to learn more about our services and how we can help you purchase your new home.