Do I need to get Title Insurance in Murphy, NC?

Do I need to get Title Insurance in Murphy, NC? Here in Murphy, NC when your Offer to Purchase has been accepted and your licensed NC attorney starts working on the transfer of ownership, he will do a title examination. If there are any issues or defects that arise, Title Insurance is your guaranteed protection against real estate title losses and is one of the best insurance values available.

We purchased some land in the Yancey County, NC mountains and even though we paid cash for it our attorney encouraged us to get Title Insurance.  A few years later when we went to sell that same property and the buyers attorney did the title examination they found a defect. It was found that one of the heirs, and there were many, had not signed and our Title Insurance covered the cost to remedy the issue and we were able to convey clear title of our land and use those proceeds to move to Murphy, NC.

The premium you pay for Title Insurance is based on the purchase price of your property and the rates are regulated by the state. This is a one-time premium when you purchase your policy and the coverage lasts as long as you own your property, and will protect you even after you sell your property. A typical policy for a $115,000 home sale in Murphy, NC would be about $281.00. Title insurance does not guarantee that title defects do not exist or will never occur, but it does insure you against possible losses through certain claims against your title as a result of conditions not revealed on your policy. So just like our situation, Title Insurance is something you really shouldn't be without.

For more information about Buying and Selling in Murphy, NC contact
Lee & Carol Barbour ~ The Mountain Living Team www.MurphyMountainLiving.com

Licensed and Serving the western NC, northeast GA and east TN Mountains

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