Things You Want to Know About Title Insurance in Mesa County

FAQ About Title Insurance in Mesa County

Not every real estate transaction is the same, each has its own particularities and this means that each transaction requires much dedication and attention to every aspect of the deal. Since there are many aspects that must be taken into consideration when dealing with a real estate transaction it is important that you have the right team of professionals to assist in the process and guide you towards the best decision. At Advanced Title Company we always strive to provide all the necessary resources and information so that each transaction can be as safe and secure as possible. That is why today, we want to answer a few common questions in regards to title insurance.

What Does Title Insurance Do?

Title insurance helps protect against the essential problematics from the past that may be lurking and waiting to pounce at your investment. Luckily, with the services of a good title insurance company such as Advanced Title Company you can feel more at ease knowing that most of those lurking problems will come up in a professionally investigated title search so that they don´t take you by surprise and you can better protect your investment. A title search is done before the title insurance is issued and this means that you can find out about any problems before closing the deal. Click here to read more about what title search is and how it helps you find out more about the property. You can also contact us directly to learn about all our services and start your investment on the right path.

Is It Mandatory in All States to Have Title Insurance?

Many states have made it mandatory to have title insurance or at least lender´s title insurance. In Colorado, it is only mandatory if the lender requires and not absolutely mandatory if your transaction is in cash. However, it is a huge mistake to purchase a property without first obtaining title insurance. Read more on why you need title insurance, here.  

Why Is Title Insurance Mandatory in Some States?

The reason why title insurance is mandatory in some states is because having title insurance makes the entire real estate processes much safer and stable for all parties. It also facilitates future transactions for that property. Title insurance allows properties that are being sold and bought to be properly recorded and the title to be maintained in legal standing so that when the new owner wants to sell or transfer the property there are less and fewer inconsistencies every time and problematics are greatly reduced because the title records have been properly maintained. Basically, title insurance benefits everyone.

What Are the Most Common Types of Title Insurance That You Need to Know About?

There is basically two types of title insurance policies that you need to obtain, lender´s title insurance and owner´s title insurance. Lender´s title insurance protects the institution or lender that granted you the loan for the property, it usually covers the amount they have invested in the property. Owner´s title insurance is the title policy that protects the buyer´s investment. It provide protection of your rights as a homeowner and helps you deal with any previously standing problems that may threaten your ownership of the property. You can usually save a lot when you purchase both lender´s and owner´s title insurance together, and this will give both parties the protection and piece of mind they deserve.

Will I Have to Make Monthly Payments for My Title Insurance Policy?

The short answer is no. The title insurance policy is paid in full, it is usually part of the closing cost of the transaction. You do not make monthly payments for it, and the policy covers you until you hold an interest in the property. This means that even your heirs can benefit from the owner´s title insurance policy that you purchase so it is best to keep those policy papers in a safe place.  Now, for the lender´s title insurance policy, there is no monthly premium that needs to be paid but if you refinance your mortgage you will need to purchase another lender´s title insurance policy that reflects the lender as the insured in that new policy.

Buy Safe With the Best Title Insurance Agency in Mesa County

Overall, title insurance plays an essential role in the protection of all real estate transactions. It can truly save your investment from many unwanted situations. With Advanced Title Company you can be sure that your investment is in good hands. Call us at (970) 255-7677 we are always happy to answer any questions you may have.