When selling or buying a property, the record of the transaction is filed and archived for future reference. Other events that relate to the property are archived, such as property ownership, liens, and legal claims. Home title insurance protects owners of the property from being responsible in the case that any of these documents raise issues. Instead of the owner of the property being responsible for taking care of the issues, the title agency will handle it. Home title insurance is an important piece of a real estate transaction, protecting the buyer and seller from any possible issues.
Cost of Home Title Insurance?
Title insurance can be a bit expensive, but it is incredibly important when making a real estate transaction. Most often, mortgage lenders require home title insurance in order to approve the mortgage. The total cost of title insurance usually averages between .50% to 1% of the home’s appraised value. If you were to abstain from title insurance, one opens themselves up to risk. If there were to be a legal dispute waged against the property, then the home-owner would have to foot the legal bills and the other fees associated with straightening it out.
Home Title Insurance with Embassy Title Agency
If you are looking for home title insurance in Novi, MI, then Embassy Title Agency is the title company for you. Embassy will be able to help you with any of your title-related needs. Our team at Embassy Title Agency is made up of over 100 years of seasoned experience. They go above and beyond to service all of our clients with much effort and perseverance. Their goal has always been putting the client first and giving them the utmost attention. You can contact us online or by phone at (734) 293-2000.