Finding the right home is only the beginning of a real estate journey. After your offer has been accepted, a series of steps take place before the sale will close. One important aspect of that pre-closing process has to do with reviewing and protecting the chain of title for the property. While that might sound complicated, it just means that a review happens of how the property has passed from one owner to the next in the past and whether there are any disputes or outstanding issues. Once the review is complete, you’ll purchase an insurance policy to protect your claim on the property. The one-time cost of that policy is part of your closing costs and is an important part of protecting your legal rights to your new home.
You’ll want to make sure that a reputable, professional title company handles these details as part of your transaction. Some of the largest companies in the United States are Fidelity National, First American, Old Republic and Stewart.
Here’s a short video from Fidelity National about title insurance —>