Brand New Homes Still Need Title Insurance

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Building your dream home? You still need title insurance.

When browsing homes to buy, your Realtor is bound to bring up the importance of title insurance, but when you’re building your own home, you’ll still need title insurance!

Title insurance is a one-time fee that guarantees that the property you’re purchasing doesn’t have a claim on it from a previous owner. Just because no one else has lived in your current home doesn’t mean that no one else has owned the land before. Paying for title insurance is the best way to ensure that you will not run into any unforeseen problems with the rights to your property.

After purchasing title insurance, the title company will organize in-depth research on your property’s title. This research will show if someone else had a right to the land previously, whether that be from a mistake in document transfers, forgery, a rightful heir suddenly appearing, and more.

At Continental Title Company, we will also perform a survey of the land to ensure you know the boundaries to the property you’re building on. Knowing this information now can prevent headaches, land disputes, and possible legal battles in the future with neighbors.

When building your own home, title insurance is important to protect you, the owner, against any liens from a contractor or subcontractor placed on your property while building the house. Sometimes, the lien could have been placed on your property by a supplier because your contractor or a subcontractor never completed the payment process.

Liens are claims from a business that they have the rights to the property they performed work on because they haven’t received payment for their services. This can be resolved after the business receives its payment and signs the lien waiver, giving up their claim to the property.

Title insurance is important for all properties, new or old, to protect you and your family from complicated and unforeseen problems beyond your control that arise during the home buying or home building process. The best part about title insurance for homeowners is that it lasts for as long as you own your home!