What Is Title Insurance?

Many Tampa Bay area home buyers ask us “What is Title Insurance?” Title insurance is a unique form of insurance that provides coverage for future events that are created by past events.

When you are buying a piece of real estate, whether it be a home, condo or land, the reality is that you may be trying to purchase real estate unbeknownst to a party who has a claim to the property. These parties could be anyone from creditors to the Internal Revenue Service. It is imperative that you receive clear title to your property prior to purchasing it.

It is essential that your interests be covered from closing day forward.

THE REAL ESTATE YOU PURCHASE HAS A HISTORY

The property’s history can contain events like unpaid taxes, unsatisfied mortgages, and any number of recorded defects that cloud the title. As a buyer, you need an advocate who will perform all the research necessary to determine the chain of ownership.

You need to be informed of any existing rights or claims that could potentially threaten your title and possession of the property. You need a company with an extraordinary record of reliability and responsiveness, Star Title Partners is that company! We serve the Tampa Bay area, including Palm Harbor, Tampa, St. Petersburg, Clearwater, Pasco, Pinellas and Hillsborough counties.

TERMITES, SURVEYS, SEARCHES & HOA ESTOPPEL LETTERS

Per the requirements of the real estate contract, the title company and lending institutions are required to order certain items from third parties in order to complete the closing. Some of these items require payment in advance and some will be invoiced.

The title company will send a check prior to closing and will then charge these items to the appropriate party on the settlement statement at the time of closing.

If a cancellation occurs, the appropriate parties will need to pay for these items (if completed), prior to cancellation. These items can be paid from the earnest money deposit if Star Title Partners is holding funds, or we will provide the customers with an invoice for payment.

Call Us Today To Find Out More! (727) 216-8185