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Showing posts from December 2, 2007

The Importance of Purchasing Title Insurance

The Importance of Purchasing Title Insurance
Every day, buyers put in offers on Philadelphia Condominiums they would like to purchase. Such offers are usually contingent upon certain inspections such as a termite, mold, or home inspection. This is a great idea especially because purchasing a home-whether it's an Old City Loft or a Rittenhouse Square Condominium-could be the biggest and most important purchase of someone's life. But for some reason, no one ever seems as concerned about the condition of their new condominium's title. Most people may not even realize that purchasing a home with a "moldy" title could end up causing you more financially, not to mention emotionally, than having to replace a roof.

Before I continue, let me explain that in the State of Pennsylvania, title insurance is a standard rate based on sales price and regulated by the "Title Insurance Rating Bureau of Pennsylvania" as you can see on most title company websites like this on…

The basics of title insurance

The basics of title insurance. Buying a home is a long process that requires a lot of different things to all come together at one time. Once you have gotten past one hurdle, you find that there is something else you have forgotten to do or think about in your home buying transaction. One thing that is commonly cast to the side is the title insurance.
When you line up your mortgage and financing, the lender will probably assign a title company to your home, but that doesn’t mean you should just stop there and forget about it all together. It is important that you research the title company and understand the title process before you proceed so you do not run into problems down the road. This can save you a lot of time, energy and stress in the long run.
A recent article by Bobbie Sage of about.com, “What you need to know about your title insurance company,” discusses some important things that every homeowner should know about title insurance and the company you are working with. So for …