What are the benefits of title insurance?

When you’re buying or selling your home, you have to make many decisions. If you’re the seller, you have to decide what improvements that you should make to get maximum value, whether you want to hire a realtor or sell the property yourself, and a listing price that will get offers. And if you’re the buyer, you have to decide what you can afford, and whether or not the property that you choose is a place where you will be comfortable. And both the buyer and seller need to decide what title company should provide their title insurance which is always an important investment.

Our team at First National Title is the Arkansas title insurance company that you can trust. We opened our door for business in 1997, and have grown to be one of the largest title insurance companies in Arkansas, with 19 branches throughout the state, and over 180 of the most experienced professionals in the real estate closing and title insurance business. We are always happy to answer any specific questions regarding your real estate closing or title insurance, and want to assist you in achieving the most simple and seamless process for you as possible. To assist in this cause, we have listed below a few ways in which title insurance benefits you, whether you are buying or selling:

Reduced risk for both the buyer and seller-Most real estate transactions involve financing, and require that a lender’s policy be purchased to protect lenders’ investment. And an owner’s policy offers protection for the purchaser from unexpected problems such as liens on the title, or other title clouds.

Protection from title clouds-Because such a large asset is changing hands, it is necessary for a thorough title search before the title can be transferred. If there are any defects with the title (commonly known as “title clouds”) they must be resolved at or prior to closing. The most common examples of title clouds include typos, misfiled paperwork, and liens on the property due to unpaid taxes, child support, or HOA dues. Sometimes a title search will discover more serious problems, such as fraud or forgery. And if a property owner dies without leaving a will, surprise heirs could suddenly appear with a legitimate claim to the property. In the event of any title clouds, title insurance will provide protection.

If you have any questions, contact us online, or at any of our 19 Arkansas locations!