Four Reasons Why Title Insurance is Important

For most people, buying a home is the largest single transaction they will ever undertake, as well as the most complex. If you’ve done an Internet search for “title companies near me,” you’ve likely seen the name of First National Title Company near the top of the returns. That’s because FNTC is a locally owned, independently operated title company, with all the experience and financial stability to handle all of your closing needs.

When purchasing a home, if you obtain a loan, a lender will require that you purchase title insurance to protect their investment, and you will also want to purchase an owner’s policy as well to protect you and your most valuable asset.

Here are four reasons why:

1. Clerical Errors-An errant keystroke or a missing sentence in a property description can significantly delay a real estate transaction if not discovered in advance. Clerical errors aren’t intentional, and are usually easy to resolve, but you definitely want to get them corrected well ahead of your scheduled closing date.
2. Unpaid taxes and unresolved liens-Unpaid taxes, unpaid child support, POA dues, and judgments against a property owner can create liens on a parcel of property that must be resolved before a closing can proceed with clear title.
3. Fraud and forgery-Most title clouds are simply mistakes, but outright fraud delays hundreds of real estate transactions each year. If your title search reveals forged signatures, or falsified documents, you could be in store for a lengthy and expensive legal battle.
4. Unknown Heirs-A surprising number of property owners die without leaving a will, and when someone fails to leave clear instructions on how their estate is to be liquidated, you could find yourself spending months in probate court dealing with children, ex-spouses and other relatives who may have a legitimate claim to the property.

Title disputes are inconvenient and expensive, and you definitely don’t want to pay to resolve them out of your own pocket! Before you proceed with any real estate transaction, contact us at First National Title Company and let us tell you more about title insurance. We’re one of the leading title insurance companies in Arkansas, with hundreds of combined years of experience in the title business, and we’re here to serve you!

You can contact us online or you may call or visit any of our 11 convenient Arkansas locations listed below, and we’ll do our very best to make sure your real estate transaction is a smooth one!