When you purchase a home, a title company will research the property to ensure that the seller is the rightful owner and will look through records for anything that might cause problems—ownership disputes, restrictions, unpaid taxes, liens, and more. Their goal is to document the chain of title and identify any issues that could become major problems down the road. At the end of the process, the title company issues a title opinion, a legal document that states that the title is valid.
The title opinion is part of obtaining title insurance. The insurance protects both the owner and the lender if there is a title dispute. If another party is actually the rightful owner of the home, your title insurance protects you from financial loss. In addition to title opinions and title insurance, title companies also handle escrow accounts and distribute money to the appropriate parties at closing. They’ll also deliver closing documents to the appropriate agencies.
In Colorado, traditionally the seller pays for the owner's policy thereby assuring the buyer that title is clear. Experience is important in the title business, so look for a company with longevity, a great reputation, and great rates.
When buying or selling a home in the Denver metro area, contact Delilah,
and let me put my knowledge, experience, expertise, and professionalism to work for you.
