Title insurance agents are a necessary part of any real estate transaction, and there’s good reason for that: a talented agent can help smooth out the wrinkles and make the whole process more efficient.
Why Efficient Transactions Hinge on Title Insurance Agents
It’s been said that the United States’ system is the most efficient in the developed world, and for the most part, that’s true.
So what role do title insurance agents play within the system?
Claim Prevention and Homeowner Protection
Title insurance agents focus on several important aspects of every transaction, including:
- Conducting title searches
- Examining and correcting errors
- Issuance of policies
- Handling settlements, closings for buyers and closings for sellers
The biggest benefit of these services is that homeowners’ property rights remain protected. They identify and fix past events so that the homeowner doesn’t have anything hanging over his or her head, such as debts or legal obligations incurred against the property.
Efficiency and Smooth Transactions
Each year, the title search process enables title agents to collect as much as $4.8 billion in back income taxes and about $325 million in unpaid child support. These collections help ensure that homeowners don’t have to worry about title problems or the chain of ownership.
The title insurance industry ends up paying far less in claims than other forms of insurance do, and other forms of insurance require monthly or annual premiums. Because title insurance agents only collect a one-time fee, homeowners save while ensuring that their investment is protected for the duration of the time they own it.
Reduction in the Costs of Home Ownership
Title insurance helps to eliminate risks inherent in home ownership, which allows lenders to extend better interest rates to consumers. If you’ve owned a home or have researched home loans, you already know that even the smallest change in an interest rate means a significant change in monthly payments.
For additional information on this topic CLICK HERE to read an article by Real Estate Rama.
Need to Learn More about How a Title Insurance Agent Can Help You?
Call us at 615-393-6222 or contact us online to discover how a Middle Tennessee title insurance agent can make your transaction follow a smoother, more efficient path. You can also fill out the form below; we’ll be in touch as soon as possible to show you the Smart Title & Escrow difference.