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Do You Really Need Title Insurance for a New Construction Home?

12/23/2024

Usually, when a real estate buyer purchases title insurance, it’s for a previously owned home. This vital insurance protects the new buyer from title disputes, search errors, encumbrances and liens, as well as fraud.

But what if your real estate purchase is a new construction home? Do you really need title insurance? Yes, you do. Here’s why.

The Role of a Title Insurance Company in Real Estate Transactions

11/25/2024

When you buy car, life, or homeowner insurance, you take great care in researching which company has the best coverage for your needs. Choosing a title company to protect your home from unforeseen legal occurrences is no different!

Title Insurance vs. Attorney Opinion Letters

10/21/2024

Attorney explaining an attorney opinion letter

In 2022, in an effort to reduce closing costs, Fannie Mae announced plans to create a pilot program that would bypass the use of traditional title insurance.

This pilot program allows mortgage lenders to rely on attorney opinion letters instead of traditional title insurance in certain circumstances. For example, if the property has a long chain of title or if the property is being sold by a government agency.

But is it a good idea? We take a deeper look.

Clerical Title Defects: Why Do They Occur?

9/30/2024

If you’re getting ready to close on a new home, your title company must make sure that you have a clear title. That simply means that there are no encumbrances from previous owners such as a lien against the property.

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What Our Clients Are Saying

Great place to do your home buying with. Tammy knows what she is doing. Carol Ashman

The crew at Lilly Title and Settlement are the best! When they handle a settlement I never have to worry. I never have to ask about the status of a closing because they send me weekly updates and if there is anything I need to know in the meanwhile, they contact me right away. As a busy Realtor that's extremely important. Their knowledge and years of experience are simply unbeatable. In all the years I have worked with them, I have not seen a mistake. Tammy Lilly is meticulous in making sure every document is checked and double checked before it leaves her office. I always trust Lilly Title to operate with total integrity and to always have a positive "can do" attitude! Ed Davis, Realtor

Do You Really Need Title Insurance for a New Construction Home?

The Role of a Title Insurance Company in Real Estate Transactions

Title Insurance vs. Attorney Opinion Letters

Clerical Title Defects: Why Do They Occur?

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