Our Title Insurance Guide for Realtors, Homebuyers, and Lenders

If you’re not actively in the process of closing on a home, you likely don’t think much about title insurance. However, if you are involved in a home sale, you should make sure the parties involved have the necessary protection in the event that a cloud on the title appears. 



There are a variety of circumstances to how title issues could cause serious problems, both financial and emotional. True Concept Title is here with a guide to help realtors, homebuyers, and lenders understand title insurance and why it’s so important.


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What is Title Insurance? 


When you decide to buy a home, you should be aware that the down payment is only one of the costs you will have to pay on closing day. Another important closing cost is title insurance. This protection can save you from massive future losses, so it is well worth the investment. 


Title insurance protects you and your assets in the event that there are unforeseen clouds on your title. You will need to buy two different kinds of title insurance if you want the best protection: a lender’s policy and an owner’s policyPurchasing both of these policies ensures you and your bank lender are protected. 


Why is Title Insurance Essential? 


While a title agent like ours at True Concept Title will perform a thorough search on your title, certain defects may be hidden and not reveal themselves until later. This could result in another party having legal claim against your property. Examples of these defects include: 



These instances occur more often than you might think. While these defects might be out of your goal, title insurance is something you can depend on. That’s why you should work with our reliable agents at True Concept Title. Call today – (813)-263-7168. 


How Title Insurance Can Save You 


While we hope you never have to face a cloud on your title, you can feel secure knowing it will simply be a nuisance instead of a financially debilitating nightmare if you’re protected with title insurance. True Concept Title will help you save time and money by: 


  • Providing a corporate guarantee against defects 
  • Covering any legal costs to remove any title clouds 
  • Paying any claim that is the result of errors in title examination and recording 
  • Paying any loss from hidden clouds 


How Does Title Insurance Work? 


Before closing on the home, the buyer or seller must purchase lender’s title insurance in order to receive a finalized home loan. This protects the bank from any hidden defects in your title that may prevent them from regaining their loan. This is typically a requirement to receive a mortgage and costs between 0.5 percent and 1 percent of the loan. It does not protect the buyer. 

 

Around this time before closing, the buyer or seller should additionally purchase an owner’s policy so that they are personally protected. While purchasing this policy is technically up to you, we highly recommend you make the investment to save yourself from a lot of money down the drain.

While you technically don’t have to purchase an owner’s policy, we strongly suggest you make the investment so you don’t end up in a financial nightmare. 

Are you making the move to purchase a new home but need help in the process? Our national title and escrow team will help you through the process so you can settle into your new home ASAP! 


Learn More > 8 Misunderstandings About Title Insurance 


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Keep Your Title in the Clear with True Concept Title 


Purchasing title insurance is essential to keep your property and your belongings safe from a financial crisis. Don’t let yourself slip into the mindset of: it probably won’t be meWhile the extra cost may be a nuisance, it is nothing compared to the costs that could accrue if a hidden defect comes to the surface. 


The home buying process doesn’t have to overwhelm you. We know there is so much to keep track of, but that’s why you should have a reliable team of experts who can help guide you through with minimal stress. Buying a home is no small step, but with True Concept Title, you can cover the distance, no problem. 


Call our title agents and escrow experts to get the process started – (813) 263-7168.


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In an age where technology continuously reshapes how we conduct transactions, e-closings, and digital signatures have emerged as transformative forces in the real estate industry. These innovations streamline the buying and selling process, offering numerous advantages over traditional paper-based closings. At True Concept Title Company , we embrace these advancements to provide clients with a seamless and efficient closing experience. Here’s a closer look at the key benefits of e-closings and digital signatures. Convenience and Accessibility One of the most significant advantages of e-closings is their unparalleled convenience. Digital transactions eliminate the need for all parties to gather in person, allowing buyers, sellers, and agents to close deals from virtually anywhere in the world. This flexibility is particularly beneficial for individuals with tight schedules or those living in different locations. E-closings also empower you to review documents at your own pace. You can sign digital documents securely at a time that suits you, reducing the pressure to finalize everything in a meeting. This convenience translates to a more relaxed and stress-free experience for everyone involved. Enhanced Security Measures Digital signatures offer enhanced security features that protect the integrity of your documents. Electronic transactions often utilize encryption and secure identities to ensure that signatures are genuine and documents aren't altered post-signature. Many e-closing platforms offer audit trails , allowing you to trace every step of the signing process. This transparency provides peace of mind, as both parties can verify the authenticity of the documents and who accessed them. Additionally, digital storage of these documents reduces the risk of loss or damage compared to physical papers. Increased Efficiency and Speed E-closings significantly expedite closing, reducing the time to finalize real estate transactions. By eliminating the back-and-forth associated with mailing documents, closings can be completed more rapidly. This speed is particularly useful in competitive markets where timing can influence the success of a deal. Furthermore, e-closings streamline communication between all parties involved. Any changes or updates can be managed in real time, ensuring everyone stays informed and on the same page and reducing the likelihood of miscommunication. Environmentally Friendly Practices The shift from paper-based transactions to digital signatures contributes to more sustainable and environmentally friendly business practices . By minimizing the need for printed documents, e-closings help reduce paper use and the carbon footprint of transporting physical documents. This eco-friendly approach is becoming increasingly important to clients conscious of their environmental impact. By adopting digital solutions, you contribute to a more sustainable future while enjoying the benefits of modern technology. Cost Savings E-closings can also lead to significant cost savings. By reducing the need for physical resources such as paper, printing, and postage, you can cut down on these expenses. Additionally, the increased efficiency of digital processes can save on administrative and labor costs. Moreover, fewer errors occur in digital processing, reducing costs associated with correcting mistakes commonly encountered in manual paperwork processing. Conclusion: As the real estate industry evolves, embracing e-closings and digital signatures represents a move towards greater efficiency, security, and convenience. At True Concept Title Company, we are committed to leveraging these technologies to enhance your closing experience. Whether buying or selling, consider opting for an e-closing to enjoy its many benefits. Ready to experience the convenience of e-closings and digital signatures? Contact True Concept Title Company today to learn how we can simplify your home transaction process with the latest digital solutions. Embrace the future of real estate with us!