Why Selecting a Reputable Title Company in Houston is Important for Homeowners and Real Estate Investors

"A study by the New York Times regarding the susceptibility of U.S. cities to natural disasters indicates that Houston is fourth amongst U.S. cities with a high risk of experiencing hurricanes, tornadoes, floods, and the like. Each year damages caused by these weather anomalies force homeowners to repair their homes. What consumers don’t know is these same homeowners will attempt to sell their properties along with the outstanding debt they still owe to the contractors. For potential buyers, a reliable Houston title company would mean the difference between purchasing a new home and entering a legal nightmare. Although there are many title companies that may offer the consumer protection against legal hassles and prevent obstructions that could interfere with the purchase of a home, it is critical that a home buyer or investor find a title company, like Riverway Title, that has an outstanding reputation, an impeccable record amongst clients and has extensive experience with resident



Insurance: Because Errors are Sneaky

Title issues are the last thing any homeowner would want to deal with at the time of property turnover. It is therefore crucial to check the title to know from the get-go whether the previous owner failed to settle contractor fees and whatnot. This task can be quite tedious, but by carrying out due diligence and securing a title insurance through a reputable title company, you don’t need to shoulder any unnecessary burden.

Also referred to as owner's policy, title insurance helps protect real estate properties from record issues or errors. In most cases, errors with the title details, undisclosed info, and fake signatures can impede the property transfer process. Yet by possessing title insurance, you’ll have the necessary financial and legal protection in place in the event that a title problem suddenly pops up out of the blue. Title insurance has a one-time fee, so there's no reason not to get one due to budget constraints.

Title insurance also works for homeowners who are looking to refinance. It doesn't matter whether or not the mortgage plan changes; the title insurance you bought from day one would still be effective. As long as the property remains the same all throughout, the title company stays with you all the way.


Why You Should Purchase Title Insurance

There are only a few things that can compare to the joy a family experiences when they have just purchased/built a house or bought the title to a property. However, many people believe that after paying everyone that needs to be paid, the transaction is over and done with. This is not always the case.

After a sales contract is accepted and before receiving the title of a plot of land, title professionals will look through public records in order to see if there are any problems regarding the property in question. These problems can range from a previous owner with a debt to the contractor or a failure to pay taxes. These problems are quite common in the real estate industry, with more than 1/3 of title reviews revealing a problem. If a title professional comes across these problems, they will fix these problems for you before you have to pay.

This process, however, is not perfect and sometimes a problem can turn up after payment or when a new occupant has already moved in. For example, a long-lost heir turns up to claim the property after you've moved in. When this happens, the heir can actually have you vacate the premises due to him/her being the legal owner. Not only are you out of a home, you also lose the money you spent purchasing the property.

If you purchased title Insurance, however, the situation completely changes. For more information on title insurance, contact your local title company.