Many people are unaware that most real estate is encumbered to some extent and a significant amount of real estate is subject to title defects of varying degrees. Sometimes buyers of real property are persuaded to disregard obtaining a title insurance policy as an unnecessary expense of the cost of the transaction. On other occasions, buyers are referred to title agencies which are unfamiliar to them and who write insurance policies on companies (underwriters) whose financial stability may be unknown or in question. Such advice and action could turn out to be both foolish and very risky and costly over the long-term. Title insurance protects you against loss of the inherent value of the property (what the property can be used for) and is a means of financially protecting yourself during periods of ownership and subsequent to ownership against claims which may:
- Divest you of your interest in your property or;
- Subject you to lawsuits under your warranty deed after your property has been sold.
The cost of title insurance is insignificant (generally 1/2 of 1% of the purchase price) in relation to the risk for which you are protected. It is a one-time cost incurred at closing (customarily shared equally between the parties) with no ongoing premium charge after the closing. The cost for title insurance is a modest amount to pay for a lifetime of protection which includes all legal fees and court costs should an action be brought either on your behalf or against you because of an insured title defect or encumbrance. American Title Associates Agency, Inc. provides full-scope title and closing services. The expertise and experience of our legal staff and examiners, coupled with our modern technology and know-how, make us specialists in recognizing and resolving title-related problems. Our closing fees are competitive with other title agencies and, in many instances, our overall costs are actually less than other title agencies. When you have a need for title, escrow or closing services, please do not hesitate to contact us at: Phone: 330-456-8900; Fax: 330-456-7121; or email us at email@example.com. American Title Associates Agency is dedicated to providing you with the highest quality of personal service at a reasonable price.