While it is natural to be skeptical about purchasing something that might seem, at first glance, unnecessary, the benefits of title insurance are substantial and can help you avoid complications that can seemingly arise out of nowhere. The South Carolina lawyers at Blackacre Law LLC are well-versed in the facets of title insurance and how it can benefit people who are covered.
A Primer On Title Insurance
The more people learn about what title insurance can do and how it works, the more they are able to recognize the potential benefits to them. Here are some of the questions our clients often have regarding title insurance:
What does title insurance do?
In a nutshell, if you have purchased title insurance, any disputes regarding the title to a property will be handled on your behalf. This can come into play when a creditor has a claim on your property due to an unresolved issue that might go back years. Ultimately, a title insurance policy could save a considerable sum of time and money in the form of legal fees and might even stop your property from being taken to satisfy a lien placed long ago.
Isn’t title insurance expensive?
The cost of title insurance is based on your real estate purchase price, so you are getting a good value relative to what you are paying for your home. Also, you pay the policy’s premium just once, up front, and you’ll be covered going forward.
Don’t you have to pay the premium on a regular basis to keep the policy current?
No, not for title insurance. You pay a one-time fee to be covered and that’s it.
Work with the attorneys at Blackacre Law LLC for your closing and see how title insurance can benefit you. Call us today in Greenville at 864-775-5400 to learn more. You can also complete and submit our online contact form to get started right away.