Coral Gables Title Insurance

Are you looking for Title Insurance in Coral Gables, Florida?

If you’re a home buyer in Coral Gables and want to make sure you have peace of mind with your investment or future home and then you’ll want to know about title insurance. It can be tempting to believe that because you didn’t find any problems with your home search, there are no problems and you can begin the closing process. You may put off taking title insurance for as long as possible, but there’s one thing that’s true – nothing is certain. The only way to be 100% safe that an issue doesn’t exist on your title is to take out the coverage for peace of mind.

What is Title Insurance and why do I need it?

Title insurance is an indemnity policy that protects the property buyer from loss, up to the face value of the policy and protects you from issues such as defects in the property. The most common type of title insurance we write in Coral Gables is lender’s title insurance, which the borrower purchases to protect the lender.

Title insurance is generally required when buying real estate or refinancing with a mortgage. It protects against risks such as missing heirs, forged deeds, or liens filed against a property due to unpaid bills or services. A real estate lawyer will typically order a title search and will oversee the preparation of title insurance when a property changes hands.

Title Insurance Premium

The premium for an owner’s policy of title insurance is usually a one-time charge based on the purchase price of the property, although it may be paid overtime with interest if you get a mortgage. An owner’s policy lasts as long as you or your heirs retain an interest in the home.

What’s the difference between Title Insurance and Homeowners Insurance?

Title insurance is different from other types of insurance because it covers things that have already happened, rather than protecting you from future risks. For example, if you were to buy home insurance, that policy would cover risks like flooding or fire damage. Title insurance, on the other hand, protects you from claims made by prior owners of your home — claims that could only come to light after you’ve already bought the property.