When it comes to title insurance, not all policies are created equal. The stronger the carrier, the insurance provider, the greater the protection can be for the buyer. No one can predict what can happen when it comes to problems arising from a property deed, also known as a defect, but the quality of title carrier for the policy can be a difference maker.
Back in the crash of 2008-9, LandAmerica went bankrupt. The bankruptcy of a title carrier isn’t the only problem in a down market; problems can arise in the ways that issues are handled by the carrier. Claims may be slowly processed and it may be difficult to deal with an insurance company. Unless your insurance company is rock-solid when it comes to financial footing, there may be some issues if there is a claim during a big bust.
Other ways that title insurance can become expensive can come in the way of what is called junk charges. Quality agencies such as Counsellors Title don’t play games with those extra charges that find their way in there.
Another way that a buyer can save on title insurance is if the seller is highly motivated and willing to pay for the title insurance cost.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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