02/14/2014
A little long, but good to know:
Even though title insurance companies are an important part of any Real Estate or Mortgage transaction, many people don’t know what they do and couldn’t name one if asked. When you purchase a home or piece of property, the last thing you want to find a few years later is that a previous owner had an unpaid obligation secured by the property that was never cleared up. Deeds of Trust (Mortgages), Tax Liens, Mechanics Liens, and Judgments are a few of the things that can encumber your property and put a cloud on your title to the property. That’s where title insurance comes in. The title company does a thorough search into the history of your property and issues an insurance policy that assures you that the title to the property is clear. If it’s not clear, the report lets you know what has to happen to clear it. Lenders require title insurance on every mortgage and standard Real Estate contracts require the seller to provide it for the buyer. Because most people are not familiar with the Title Insurance industry, they usually accept the recommendation of their Lender or Realtor, but you do have the right to select the title company yourself if there is one you want to use. If you are buying land or getting a new mortgage in Utah County, Wasatch Land & Title Insurance Agency, Inc. in Spanish Fork makes sense because we know local land issues and can provide accurate title reports with quick turnaround. We also don’t charge fees such as Document Preparation, Wire Fees, or Courier Fees. Our closing fee is lower than most of our competition as well. It all boils down to quality title work and lower costs. Ask your Realtor or Lender to use Wasatch Land & Title next time you purchase a home or refinance your mortgage. You’ll be glad you did.
