An Insider's View from Hampton Roads, Virginia

As a homebuyer, the process of buying a home can be both exciting and overwhelming. One aspect of the process that often goes overlooked is the importance of title insurance. Title insurance protects homeowners against any claims that may arise during the ownership of a property, such as a creditor putting a lien against the property or a previous owner's heir coming forward with documentation of their interest in the property.

Title insurance is not mandatory in the state of Virginia, but industry professionals in the Hampton Roads area highly recommend it. Unlike car insurance, title insurance is optional for the homeowner, but required for the lender in order to protect their asset. Homeowners who choose to get a title policy are protecting their assets and ensuring a smooth transaction process.

Title insurance is similar to other insurance policies, in that the company selling the policy makes their money through selling policies, not through incentives or kickbacks. The process of making a claim is similar to making a claim with a car or health insurance company. Homeowners simply need to make a claim with the company they have a policy through, and they will help resolve the issue.

While title insurance may not be at the forefront of a homebuyer's mind, it is a crucial aspect of the real estate transaction process. Industry professionals in the Hampton Roads area are committed to educating and guiding their clients on the importance of title insurance and how it can positively impact their real estate transactions. Protect your assets and ensure a smooth process by considering title insurance in your next real estate transaction and reaching out to the Marching 2 More Real Estate Team.