Investing in a piece of real estate - whether a home, commercial property, or vacant land - means obtaining title, or ownership rights. Of course, along with the property itself, you will also obtain any issues with the title that aren’t cleared before settlement.
Although title concerns are usually cleared up before the transaction goes through, anything that is missed can threaten your right to title - and may even become quite costly. This is when title insurance steps in to save the day.
Before you close on your property, let’s talk about where to buy title insurance in Washington, D.C.
What is Title Insurance - And Why Do You Need It?
A title company of your choosing will perform a title search when you begin the process of buying real estate. This search dates back to the inception of the property - and will diligently review the documents from each time it changed hands. Careful attention is paid to legitimacy and accuracy. This search also includes a search of public records, too. The idea is to make sure there is nothing clouding the title – so that it is free and clear for you to buy without any concern.
Regardless of how well your title agent reviewed the search, there is always a chance that something can arise down the road. It is possible for an erroneously recorded judgment or lien, a forced signature or fraudulent document, or an unknown heir to surface after you take title to the property. The result? You would be left spending your own money to fight for your ownership rights, whether in or out of the courtroom.
With title insurance, you won’t have to worry. You’d simply pay the one-time fee at closing and be covered for as long as you own the property. If any title defect arises, you’d simply file a claim with your title insurance company.
In other words, title insurance is important – so let’s talk about where you can get it.
Where to Buy Title Insurance in Washington, D.C.
Title companies take many steps in ensuring a smooth, seamless closing experience. They thoroughly search the property and prepare a title opinion advising whether or not the seller appears to have the rights to sell the property - and whether they would feel confident in issuing a title insurance policy.
Your title company will walk you through all the steps along the way, from the purchase agreement and good faith deposit until the keys are in your hand. Therefore, you want to find a title company that is:
Experienced in diverse transactions
Understanding of the local market
Accountable, efficient, and productive
Streamlining their processes
Able to provide references - and a positive reputation
Before you move forward with your real estate transaction, secure the right title company.
Title Insurance at District Title
If you are looking for title insurance in Washington, D.C. - or in the surrounding areas of Maryland and Virginia - District Title has you covered, literally. Whether you are buying your first home or you are a seasoned investor in commercial property - and everything in between - we have a knowledgeable team that will help make sure you have the title insurance you need.
To get started, contact us today at (202) 518-9300. We look forward to helping you plan for your future.