Is Title Insurance Necessary if You Pay in Cash?May, 02 2018
Why do you need title insurance if you aren’t working with a lender?
When you invest in a house, you are investing in not only the property itself but the history of the home as well. Title insurance protects your investment from problems that may arise down the line.
Now, if you’re paying with cash, you may think that you don’t need any title insurance. Today we’re going to be discussing whether or not this is truly the case.
Title Insurance is Usually Required by the Lender.
When you work with a lender to purchase a house, they will most likely require title insurance with a Loan Policy, or a Lender’s Title Policy. However, if you don’t work with a lender then this requirement won’t apply to you.
With a cash investment, you may think that you should skip over working with a title company.
This way of thinking can dangerous.
Without Title Insurance, You Are Leaving Yourself Open to Issues.
Though you don’t have to invest in title insurance to satisfy a lender, an Owner’s Policy is still wise.
Regardless of how you are paying for your house, issues with the title can still arise down the line.
Things like undisclosed heirs, property liens, and other title-related issues are unaffected by how you’ve paid for the house.
Thus, working with a title company to protect your investment is still very important.
Armour Settlement Services is Here to Help You With Your Title Needs.
Armour Settlement Services is a title company that works for you.
We at Armour Settlement Services are ready to jump in and assist with any and all of your title insurance needs. We handle everything from closing services to deed transfers and much more.
When you’re ready to take the plunge with your new home, give us a call at 1.877.TITLE.30. You can also check out our contact page and send us any questions you may have.
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