When it comes to title insurance, it doesn’t hurt to have everyone involved in the closing process have a title insurance policy. While it’s important for lenders to have a policy of their own, it’s vital for buyers and sellers to have their own policy. Title insurance for sellers and buyers prove that no one else holds a valid claim to the property. With AllQuest Title Agency, we ensure a clean title to make the closing process as smooth as possible.
Why Sellers and Buyers Need a Policy
Both sellers and buyers should have a title insurance policy. For the seller to have a title insurance policy, it means someone already checked to make sure another person doesn’t have a lien against the property. The seller should then get a new title insurance policy for their new home to make sure there aren’t liens against the property.
For buyers, it protects you in case someone comes around claiming they have a right to the property. AllQuest Title Agency will do the research to make sure there everything is line with the property by the closing. We have a real estate attorney on-staff who is ready to help.
How Long Does the Policy Last
The policy lasts for however long you own the home. So, if you live in the home for 15 years, that’s how long your policy lasts. When you move, you’ll want to have a new title insurance policy to make sure there’s nothing to surprise you with your new home.
Is It The Same Policy as a Lender’s Policy
Lenders want to protect their interests. That’s why they have their own title insurance policy. That policy won’t cover the buyers or sellers, which is why it’s important to purchase your own policy to protect your interests.
The home closing process is already stressful. Don’t let it become even more stressful due to claims on the property. AllQuest Title Agency works with you to ensure a clean title by closing. Protect yourself and your home by investing in title insurance for sellers and buyers. Contact AllQuest Title Agency today.
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