What is Title Insurance

Home buyers and sellers frequently ask about title insurance. What is it? How much does it cost? Who pays for it?  These are important questions.

Title insurance is protection against loss arising from problems connected to the title to your property.

1 in 3 title searches reveal a problem with title that must be resolved prior to closing. These problems include defaults in payment for improvements on the property or back-taxes where financial responsibility could fall upon you. Following a thorough search of public record on your property, we provide you with an Owner’s Policy which protects you against any mistakes, fraud, forgery, errors, or lost heirs, that could question your ownership. It is a one-time cost that covers you and your successors for as long as you own or have interest in the property.  The cost of a title policy is based on the purchase price of the property, and is typically paid for by the seller.  If you are a buyer, and are financing your purchase, you may be charged for a Mortgage Policy insuring your lender for the face amount of your mortgage.

Do I have to obtain Title Insurance?

A title policy is required in order for Rocky Mountain Escrow & Title Inc., to close your transaction.

Can I get a discounted rate?

Yes, in some instances, a reissue, or discounted rate can apply.  Check with us to see if you qualify for a reduced rate.

Did you know that some real estate agents will assist you with contract preparation for a nominal fee?
Rocky Mountain Escrow & Title cannot prepare your real estate purchase contract.  You should seek legal
and/or tax advise from a professional for your protection.