How do I obtain title insurance?

Obtaining title insurance in Washington is a relatively simple process, and is typically required by lenders when a real estate purchase is made. The process generally begins when you enter into a contract with a title insurance company, and then the title insurance company performs a search of the property’s title. This search typically includes an examination of any previous sales contracts, property records, and liens. Once the search is complete, the title insurance company can issue a title insurance policy, which covers the buyer of the property from the potential risks associated with the purchase. The title insurance policy is typically paid in full at the time of closing, and the cost of the policy will vary depending on the value of the property and the amount of the coverage that you obtain. It is important to understand the coverage that the policy provides, as well as what types of claims are excluded from the policy. Additionally, it is important to keep in mind that the title insurance company’s search is not foolproof, and there may be title issues that the search didn’t identify. Finally, it is important to remember that obtaining title insurance does not guarantee that title claims won’t arise in the future. Purchasing title insurance is simply one way that a buyer can reduce the potential risk associated with real estate purchases.

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