If you plan to buy a Chicago property, the sooner you learn about title insurance, the better. For many first time Chicago real estate buyers, the first time they hear about title insurance at the closing of their Chicago property. This article presents the basics of title insurance for protecting your new Chicago real estate acquisition.
What is Chicago Properties Title Insurance?
When you buy a new car, do you insure your car? Of course! When you apply for car insurance, does the agent ask to see your title? Of course! Thats the basic idea behind Chicago Properties title insurance – to protect your Chicago real estate investment , The mortgage lender requires proof you own the Chicago property and no one else has a lien on your property. The chances or securing a Chicago real estate mortgage without title insurance are like the Chicago Cubs winning the pennant this year only better!
Title Insurance – NOT Casualty Insurance
Casualty Insurance such as car insurance assumes risks for damage to your car or other property. When you have a covered accident or loss, they pay you. Title insurers earn their money by finding and eliminating...