Our Real Estate Agent, Carolyn DiFebo, tackled one of the most frequently asked questions when it comes to buying real estate in Destin, Florida. Do you really need Title Insurance when purchasing an investment property or second home? Here's what you should know:
Title insurance has been around for more than 125 years to protect homeowners. A home (real estate) is the largest asset (investment) you will own and it should be protected.
So, what is title insurance? It is an insurance policy that protects the interests of the parties involved in the transaction. Title insurance ensures the transfer of the property is secure and prompt. It helps determine if there are any liens on the property other than the mortgage, mineral rights, claims by relatives as well as other important history and facts about the property. Most of the time the issue can be corrected (often without the client or lender being aware). The title company resolves these issues on behalf of all parties.
In summary, whether you are securing a mortgage on the property, or paying cash, it is worth the investment to always have title insurance (and most lenders require it). It is always best to mitigate risk and title insurance helps avoid claims and/or losses that can occur in the transaction.
Want to learn more about this topic? Contact Destin Real Estate Agent Carolyn DiFebo direct at [email protected]
Interested in learning more about Real Estate in Destin, including recent listings? Visit Newman-Dailey’s Real Estate Sales page at DestinSales.com.
Not sure which Emerald Coast beach is the best fit for you? Come discover Northwest Florida’s beaches by staying in a Newman-Dailey vacation rental. View our collection of South Walton and Destin vacation rentals online or call one of our friendly vacation specialists at 1-800-225-7652.
See you @ the beach!
Whew... Lots of properties! Please, give us a sec.