Don t allow a real estate agent or broker to pressure you into a fast settlement. Most title attorney or insurance companies can rush the paperwork for quick settlement, however you will usually have to pay a premium for rush service. Allow 60 to 90 days in the contract. If you have financing and the title attorney or insurance company is ready to proceed sooner, most contracts allow for a quicker settlement if agreed to by both the buyer and seller. Title Insurance Title insurance provides protection against claims of past actions, which might threaten the title to your property.
Most lenders require mortgage title insurance to protect their interests.
You may save money if you buy owner s title insurance at the same time as mortgage title insurance, rather than buying it separately. Although a title search will be done, it is impossible to eliminate all risks or hidden defects in the title to the property, which cannot be discovered by examining the record, such as forgeries, or voidable execution of a document. Title insurance will protect you against these risks. A title policy does not insure that the title is clear. It principally insures ownership of the property and against matters that are not disclosed.