Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.

 

1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.

 

2. It’s a one-time cost usually based on the price of the property.

 

3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.

 

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.

 

5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.

 

(Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.Copyright 2008. All rights reserved.)

 

 
If you have any questions regarding selling or buying a home feel free to contact Evan Corkett (949) 640-3685 or Steve High (949) 640-3603. They specialize in luxury property sales in Newport Beach, Newport Coast, Corona del Mar and Laguna Beach.

Luxury Homes in Newport Beach, CA

  1. 5 beds, 3 full baths
    Home size: 3,527 sq ft
    Lot size: 7,670 sqft
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,842 sq ft
    Lot size: 5,663 sqft
  3. 3 beds, 2 full, 1 half baths
    Home size: 2,476 sq ft
    Lot size: 3,535 sqft
  4. 3 beds, 3 full baths
    Home size: 2,551 sq ft
    Lot size: 6,600 sqft
  5. 5 beds, 6 full, 1 half baths
    Home size: 4,408 sq ft
    Lot size: 7,007 sqft
  6. 4 beds, 3 full, 1 half baths
    Home size: 3,751 sq ft
    Lot size: 6,565 sqft
  7. 4 beds, 3 full, 1 half baths
    Home size: 4,100 sq ft
    Lot size: 9,500 sqft
  8. 4 beds, 3 full baths
    Home size: 3,000 sq ft
    Lot size: 9,545 sqft
  9. 3 beds, 2 full, 1 half baths
    Home size: 3,010 sq ft
  10. 4 beds, 3 full baths
    Home size: 2,066 sq ft
    Lot size: 3,145 sqft

See all Homes For Sale in city of Newport Beach.
(all data current as of 3/29/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.