Most home sellers and buyers have been informed that obtaining title insurance will provide them necessary protection over possible title defects; but many remain uncertain about why this is so, or even about what title insurance is. At Fidelity Title Company, we believe we have everything to gain by throwing some light on the subject. The more you know about title insurance and its pricing, the more confident you will be about coming to us for a policy.
Frequently Asked Questions
Why does the seller need to provide title insurance?
Any prospective buyer will need evidence that his investment in your property is free of title defects. In fact, your contract of sale probably requires it. The title insurance policy that you provide the buyer is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. The title policy carries special authority: it reassures your buyer that the title has passed most careful scrutiny. In addition, it can help your deal close more quickly and easily.
Why does the buyer need title insurance?
Without a title insurance policy from Fidelity Title, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title of your new property. As a result, you may be held fully accountable for any prior liens, judgments, or claims brought against your new property. However, your title policy insures that if such an occasion arises, you will be defended against all covered title claims and paid up to the amount of the policy to settle valid claims. With a title insurance policy from Fidelity Title, backed by our underwriter’s financial strength, you need never worry that your new property’s history will tarnish your bright future.
A seller's concern: how much does it cost?
A title insurance policy is much more cost effective that the other kinds of insurance you have had to purchase. For a single, one-time-only fee, we provide a title policy that remains effective until the property is sold to a new owner – even if that doesn’t occur for decades. Our price structure is among the lowest, giving you the most respected name in title insurance at highly competitive rates.