How Does Title Insurance Work?
Title insurance is important for several different reasons. Find out about how title insurance works with help from an entrepreneur, real estate broker and real estate coach in this free video clip.
Hi, my name is Brendan Bartic with TheBarticGroup.com here in Denver, Colorado, and today I'm gonna be talking about how important title insurance is. Now, title insurance is important for several reasons. The first is basically that you are protecting the deed when it's sold to another party that there's no prior encumbrances that could come back to haunt that potential buyer in the future. So for example, the title is a chain of custody along the history of the property. Now for some properties they might be a hundred years old, and there could have been 20 to 30 different owners along the course of that. So what title insurance is doing is basically covering the fact that there are no discrepancies, and there's no past leans, there's no issues, there's no other people attached to the title from prior ownership. So it's vitally important to make sure that you have title insurance. Now, a lot of people that purchase homes as a for sale by owner or whatever it is, may make the decision not to do this, as it is an additional cost. Title insurance can range anywhere from a hundred dollars to, you know, $50,000, depending on the property and the amount of coverage necessary. So, make sure you talk to a licensed real estate agent. You can also talk to somebody that works at a title company to see what coverage and what policy could be the best for you, but I'd highly recommend that you have it, because again, it's still protecting you and your property from any further or future claims to your possible home or land. So, again, that is the reason why you would want to definitely see if you needed to have title insurance or not. My name is Brendan Bartic, with TheBarticGroup.com, thank you so much for watching.