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Enter your phone number to the Click2Talk box on the right and be contacted by
Gregg or Lisa Whitney within seconds.
Why do I need title insurance?
At Whitney and Associates we are asked
this question regularly. To prove that a
Seller of La Jolla California Real Estate
actually owns the home he or she is trying
to sell a title search is done. Gregg and
Lisa Whitney know this establishes the chain
of ownership from the time the home was
built up to the present.
Their partnership, also known as Whitney
and Associates, has a proven, long-term
track record of successful real estate sales
in the La Jolla, California Real Estate
Market. Gregg and Lisa Whitney believe Clients
should be educated about title insurance
and have provided this information so Buyers
and Sellers can make the right choice for
them.
Title searches are generally done manually
by lawyers, title companies, or other specialists
because historical documents are rarely
done on computers. A title search is necessary
because the lenders needs to know if there
are any liens, judgments, or easements filed
against the property, preventing you from
being granted a good title.
Gregg and Lisa Whitney know that title
insurance helps protect the Buyer from possible
“defects” on the title. If any
of the documents that establish the title
are mistaken or omitted and it turns out
that the property is less valuable than
originally appraised, the title insurer
will reimburse them for the lost value.
If the insurer notes a defect before the
sale, however, the Buyer is responsible
for contacting the Seller and correcting
it. Gregg and Lisa Whitney keep their clients’
best interests in mind and make it a high
priority.
Title insurance is paid as a one-time
premium; the cost is based on the sales
price of the home. In most cases the Seller
pays for the title search so he or she can
guarantee that the Buyer gets a good title.
The lender, meanwhile, will want to pay
for the title insurance to cover the lender.
It’s not strictly necessary for the
Buyer to cover themselves, but it’s
a good idea.
If you buy both the lender’s and the
Buyer’s title insurance together,
you may get a discounted rate or, if you
are working with a real estate attorney,
they can obtain discounted rates if they
work regularly with a title company. These
are some good things to consider and should
be discussed with Gregg and Lisa Whitney.
Finally, if the Seller has only owned
the home for a short period of time, the
Seller’s original title company may
be willing to issue the Buyer a discounted
“reissue” rate.
At Whitney and Associates, we are the
right choice for the Buying or Selling of
a home in La, Jolla, California.
Have any questions or like to learn more?
Use our handy form on the side of the page
to contact Gregg and Lisa Whitney. You will
see that we only require your email address.
Gregg and Lisa Whitney understand that your
privacy is important to you and we respect
that. We do not share your information with
anyone without your permission.
Gregg and Lisa Whitney realize that you
are probably in the information gathering
stage of your process, and we want to provide
assistance to you in any of your La Jolla,
California Real Estate needs. If you would
like to talk to Gregg or Lisa Whitney in
person, feel free to call Whitney and Associates
at our main line at 858-456-3282.
When you are ready to invest in the real
estate market let us help you. After all,
we are the experts in La Jolla, California
Real Estate.
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