What do you need to know about Title Insurance?
Title Search: A title search is a review of all publically-recorded transactions, with the goal of uncovering anything whatsoever that could possibly affect “title” of the property in question… and the sale of that property.
Title Defects: Any title issue (whether a lien/encroachment/question of ownership/code enforcement issue/improperly executed or recorded mortgage or deed/ unpaid taxes …) which might render a property unsaleable.
Title Insurance: This is the insurance policy that protects the buyer should any title defects surface later on … after closing … (that may have been overlooked or missed in the initial title search). Title insurance covers legal fees and or damages or monetary repercussions … and protects the buyer.
Owner’s Policy: This will cover the buyer (for up to the purchase price) … for as long as the buyer owns that property.
Looking for a top real estate agent in South Florida? Alexandra and Vicki Restivo of EWM Realtors work with both buyers and sellers throughout Miami. Call 305 793-1365 or email the Restivo Team at restivo.v@ewm.com whenever you’re ready to buy or sell.
