How to Make Your New Title Company a Smashing Success

Investor friendly title company will have the best interest of the investor in mind.

It is common knowledge that a title company is responsible for a certain set of tasks and duties and is committed to offering the services with equal fervor to all the parties involved in the purchase and sale of a property.

A title company is responsible for ensuring the entire documentation of the sale is genuine and that the title and the insurance of the property have been drawn legally, fairly and as per the terms finalized.

Besides this, the company also ensures that the overall paperwork has been done properly and distributes the costs appropriately.How to understand if the title company is investor-friendly?Looking for the best company from innumerable title companies in South Jersey is actually like looking for a needle in a haystack.

One of the most dependable ways to look for the right title company is to use online resources.

It is also important to check for recommendations from the local arm of the Real Estate Investment Association (REIA).

Benefits of an Owner’s Title Insurance PolicyWhen you purchase title insurance on a property, a complete search of the public records is completed.The searcher will go back as far as the public records will take them, in many cases even before a house existed on the land.

It’s not uncommon to find references to a horse trail that at one time may have existed on your property, or possibly some other historic use of your land.

The searcher is looking for anything that may have occurred during the chain of ownership that would affect your ability to enjoy free and clear ownership or access to the property.

Here are a few examples of title defects that would most likely be covered by owner’s title insurance.Old mortgages that were never fully paid off or satisfied of recordPrevious foreclosures that might not have been processed correctlyBankruptcy issuesUnpaid inheritance taxesLost heirs that might have a claim to the propertyPrevious tax sales where the property owner never received legal notice of the tax saleDivorce issues where the property was not properly conveyed from one spouse to anotherUnusual easements that give others access to use your propertyUnpaid contractors who filed a mechanics lienUnpaid real estate taxes, unpaid municipal liens (water, sewer, gas, trash)Unpaid IRS Liens, unpaid state tax liens, etc.If and/or when one of these issues pop-up, you’ll be happy that you purchased an owner’s title insurance policy.

Not only does the policy protect you from financial loss, up to the amount that you paid for the property, but it also covers your legal fees to protect and defend your interests in the property and they can add up quickly.

How much does Owner’s Title Insurance cost?A lot less than you might think!Unlike most insurance products, there is no monthly or annual premium for title insurance.