COMMUNICATION The Real Insurance When Buying a Home

Ready to close on a home? Stop! Before you sign a contract and buy your new home, make sure your information is accurate. Is the person or builder selling the house the actual owner of the property? Is it free and clear of any previous claims or liens? Is the actual owner the “heir” but the property is under someone else’s name? Are there any debts or obligations with the property? If you are not aware of these important issues, you will end up receiving unpleasant surprises in the future. So before buying a home and signing anything, we highly recommend you get title insurance to protect yourself and your new home from the very beginning.

Title insurance is a form of protection coverage called “indemnity insurance” that is issued by a Title company and protects lenders and homebuyers from financial loss sustained from defects in the title to a property. If the condition of a property title is not what you understood when you purchased your home, a title insurance policy protects you against any and all losses that may occur as a result.

What is the cost of title insurance? Here in Texas, title insurance fees are regulated by the state, so you won’t need to get different quotes for prices; however, you do need to choose a title company with an established reputation in the community to make sure that they obtain all the pertinent documentation regarding the property from sellers, real estate agents, lenders, etc.—a title company that knows what to do and with whom to communicate to get everything done. That’s why, during this final stage of a real estate transaction, timely communication among all parties—from the title company personnel, to the seller, to the real estate agent or broker, and to the buyer is fundamental!

By the time homebuyers are ready to close on their new home, most have been excitedly waiting to move in for quite a while. Sometimes, however, there may be a delay in closing, and more often than not, it may be caused by inaccurate information that could have easily been avoided. Marielsa Pulido, Vice-President of Operations for Sierra Title Company of Hidalgo County, cannot stress enough the importance of communication. She emphatically states:

Everyone involved—the buyer, the seller, the realtor, the lender, and the title insurance company must work as a team to provide an accurate, fast, and efficient closing experience for our customers. Closing is a team process; therefore, as a team, we all need to work together and communicate in a timely manner. Working as a team is something we at Sierra Title Company have been doing successfully for years. We have roots in the Rio Grande Valley going back to 1928

Since buying a home is surely the largest investment most people make in their lifetime, it requires the best protection--the kind of protection you get with title insurance from an established, reputable title company with a long history of doing things right. Choosing a title company may be the last step in buying a home, but it’s the most important one. You need to find a title company with an established reputation, and make sure all parties, from the seller to the real estate agent, to the lender, communicate well and rapidly with each other so that buying your dream home can be a pleasant, no-hassle experience.

Sierra Title Company of Hidalgo County is Valley-owned and operated with offices in McAllen, Edinburg, and Weslaco, Texas. The company is one of six independent title companies forming the Sierra Title Group that has 18 offices in Texas and New Mexico, including offices in El Paso, and in the counties of Cameron, Willacy, and Kennedy in South Texas.

If you want to learn more about title insurance, contact Sierra Title of Hidalgo County in McAllen at (956) 682-8321. You can also visit www.sierratitle.com for more information. Sierra Title of Hidalgo County has been serving the Rio Grande Valley since 1969 and specializes in both commercial and residential transactions, plus offers the only Guaranty Company based in the Valley.