No matter if you are a first-time homebuyer or an experienced investor in Miami commercial real estate, you commit a great deal of yourself and finances when making any kind of property purchase. As such, you have the right to be informed and comfortable with all of the various aspects of the purchase contract and title of the property that you are committing to. Obtaining title insurance can go a long way to provide you with the peace of mind and legal security necessary to make a sound real estate investment. It is for this reason that we here at Cuevas, Garcia & Torres, P.A., provide our clients with comprehensive title insurance services.
Title insurance can be used in real estate transactions of all sizes, including the sale or refinancing of a personal home to the leasing of a commercial property. It is also often necessary in cases involving the sale of foreclosed properties and 1030 tax-deferred exchanges. In fact, homeclosing101.org explains that title insurance can address a huge number of legal problems when it comes to purchasing a home.
Issues concerning the title of a housing property can occur at more than one stage of the closing process, including after a title professional has reviewed public records and/or other searchable documents. For instance, the title search process can fail to reveal legal issues like any omissions and/or mistakes made on the deed of the property. In such cases, having title insurance ensures that your title company will cover valid claims for any problems that arise after the title search process is complete. A title insurance policy is typically issued in the amount of the price of the real estate purchase, and is a one-time fee due at closing.
Given that more than one type of title insurance is available, it can be helpful to discuss your options with an experienced real estate attorney. Learn more about title insurance and other real estate purchase topics by visiting our web page today.