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| Title Insurance: |
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| Title insurance
is important because, by providing you with an Owners Policy,
they
insure that you have clear title to the property.
If there are any problems later, you can always go back to the
title insurance company and have them clear it up. Since it is
customary for the seller to pay for the owner’s policy, they
have an interest in which company is used.
However,
you are going to pay a fee to the title insurance company,
too. This is for the Lender’s Policy. The lender’s
policy insures your mortgage lender that there are no liens
or judgments against the property and that the mortgage will
be
in first position. In other words, should you sell the property
or refinance it, their mortgage gets paid first, before any
other claims against the property.
The lender’s policy is less expensive than the owner’s
policy.
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All information deemed reliable
but
not guaranteed and should be independently verified. All properties are subject
to prior sale, change or withdrawal. Neither
listing broker(s) nor Thompson Realty Inc. shall be responsible for any
typographical errors, misinformation, misprints and shall be held totally harmless. |
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