If you’re buying a new home, you’re probably consider whether or not to invest in title insurance for your home. While you’re not required to purchase title insurance for yourself, you are required to purchase it for the lender. There’s a good reason for this. The lender realizes the value of title insurance and its ability to protect it against claims against the property’s title that could otherwise result in lengthy and expensive legal contests. Let’s talk about some of the reasons why title insurance in Maryland is a worthwhile investment for you, the buyer.
Investing in Title Insurance in Maryland
It protects you from third-party title claims.
Title insurance in Maryland offers you protection from third-party claims on your home’s title. Though the title search can uncover some potential problems with your title and take care of them before the purchase of your home, there are some problems that can’t be discovered. Often these are the result of filing errors or forged documents. This is why it’s essential to have title insurance as a means of protection against these unforeseen problems.
It’s a one-time fee.
You purchase title insurance during the purchase of your home. Once you’ve paid for it, you’ll never have to do so again. Title insurance is a one-time fee that could end up saving you a substantial amount of money in the long run.
It could end up saving you your home.
The worst case scenario you could encounter would be a legitimate claim to your home’s title from a third party with no title insurance to protect you. It’s very possible that you could lose your home in this situation. Title insurance brings you the peace of mind that comes with knowing your home is safe.
About Colony Title Associates:
Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings in Washington DC and the Delmarva area every year. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the Baltimore area. If you have any questions concerning issues that Baltimore title insurance protects you from, feel free to contact us at 410 884-1160 or visit ColonyTitle.com today!