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Today we have Aimee Bradshaw from Decatur Title here to speak about the importance of title insurance. If you're a buyer, you'll definitely want to listen to what she has to say.
Title insurance is a complete investigation of a given property to ensure that the property is owned by the correct person. The real purpose is to ensure that the seller has the actual right to sell the property. Sometimes there are liens on the property or mortgage payments are still owed by the owner, and this can really cause a disastrous home sale. The information for title searches is all found at a public courthouse at the recorder's office.
We've seen nightmare scenarios where entire home sales are ruined, and the buyers are left in an awful situation because they didn't purchase title insurance. The cost of title insurance is in relation to the sale price, and it's a one-time premium that covers the life of the property.
We highly recommend that you purchase title insurance, because it can prevent a hidden disaster from occurring when you buy a home. The process is already stressful enough, and purchasing title insurance is one way to take some worry out of the process.
Please don't hesitate to contact me in regard to any questions you might have about real estate in Central Illinois.
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