If you buy a home in Grand Junction and you use a lender to borrow the money for it, you’re going to need title insurance.
It may sound like it’s an unnecessary add-on, but lenders actually require it to protect their investment.
What is Title Insurance?
Title insurance is protection against defects in the title attached to a home or property. If someone comes along after you’ve purchased a property and challenges your ownership in it by claiming that it’s somehow theirs, title insurance will protect you (and your lender) from losing it.
What Are Title Defects?
Title defects are problems with a property’s title.
Common Title Defects
Some of the most common title defects include:
- Errors in public records
- Unknown liens
- Illegal deeds
- Missing heirs
- Undiscovered encumbrances
- Unknown easements
- Boundary and survey disputes
- Undiscovered wills
- False impersonation of a previous owner
The Title Search Before Issuing Title Insurance
Your title insurance company will conduct a thorough title search before they issue title insurance. This protects them, you, and your lender.
They’re looking for anything that could affect your ownership of the home if you by it, such as the title defects listed above. If someone else can make a claim on the property, they’ll let you know as soon as they discover it.
Are You Buying a Home in Grand Junction?
Call us at 970-765-4135 or get in touch with us online to tell us what you want from your next house. We’ll help you find it.
You can also use these links to search for Grand Junction homes for sale by price:
- Grand Junction Homes for Sale Under 100k
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- Grand Junction CO Real Estate 200k – 300k
- Homes for Sale Grand Junction ST 300k – 400k
- Grand Junction Real Estate Listings 400k-500k
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- Grand Junction CO Real Estate 600k-700k
- Homes for Sale Grand Junction ST 700k-800k
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- Grand Junction Colorado Homes for Sale 900k-1 Million
- Grand Junction CO Real Estate Listings Over 1 Million