Purchasing a home is not a small task. This is a hefty investment that requires research in addition to funds. When you purchase a new home, you are encouraged to investigate its history. You are searching for things like unpaid property taxes. Even though those taxes were not paid under your ownership, you could be held liable for them as the new owner.
Here are three reasons to acquire home title insurance in Onsted, MI, or you can contact Prestige Title Insurance Agency.
Protection Against Forged Deed
As you search for your new home, if you are not careful, there are details that you can forget to double check. Title insurance is protection against financial loss due to a problem with your new home’s title. If you acquire a new home and it turns out that the deed was forged, this insurance protects you against your potential financial loss.
Protection Against Fraud
Title insurance also protects you against financial loss due to fraud. If you purchase a home that was not actually for sale, the coverage helps you recoup some of the money you spent.
Protection Against Misrepresentation
If you purchase a new home and you find out that there was misrepresentation during the sale, title insurance protects your potential financial loss. You will simply be asked to file a claim. Then provide all the necessary paperwork and evidence. After, the claim will move forward. For more information about home title insurance in Onsted MI, contact Prestige Title Insurance Agency.
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