Tag Archives: home owners title insurance

Title Insurance Discount for First Responders, Veterans, Active Military and Health Care Workers

We wanted to make you aware of a discount

that we are offering in partnership with one of our Title Insurance Underwriters. The discount is offered to First Responders, Veterans, Active Military and Health Care Workers. The discount applies to the owner’s title insurance premium incurred in relation to the purchase of a home. In order to qualify only one of the buyers needs to be in one of the groups listed and they must be purchasing a Massachusetts 1-4 family owner-occupied property.

• The Discount is equal to Ten percent (10%) off title insurance premiums for expanded or standard owner policies.

• Offer valid through December 31, 2021.

• The offer cannot be combined with any other discount

When you buy a house, you are buying more than the structure and the property it sits on. You are also buying its legal history, as identified in the title. Title insurance insures buyers against a loss resulting from matters affecting the title to the property. Title insurance companies evaluate the history of the property and insure that nothing in the history of the title will result in a loss to the insured. Unlike other forms of insurance, title insurance is paid for by a single, one-time premium at the time the property is acquired. The Owner’s Coverage is determined by the purchase price of the property, so the higher the purchase price the greater the amount of the savings, also, the premium for the expanded coverage is greater than the premium for the standard coverage.

We are proud to be able to offer this discount to so many that have served our great nation and to those that protect us every day.

Home Owner’s Title Insurance–Hidden Real Values for the Realtor

The subject of Home Owner’s Title Insurance always comes up in purchase transactions in which I am involved. For my more sophisticated clients, it is generally a “no-brainer”. The client spends a little extra money and then has piece of mind respecting his or her title which will last throughout ownership of the home. Even if the person performing the title search missed a probate, or didn’t see an undischarged private mortgage, HOTI will cover it. More importantly, even if there is a forgery in the chain of title or the Registry has lost, or misfiled, an important document, the company providing the HOTI will stand behind the title. This assurance provides a lot of comfort for an investment that far out-shadows all others for the average purchaser,

Having said all this, and truly believing that HOMI is the right way to go, I am continually shocked when realtors at a purchase closing are neutral,or even negative,about their customer’s purchasing HOTI. Perhaps, they are “grandstanding”, trying to show how they are helping the purchaser to husband each and every of their hard-earned dollars for more important things. Perhaps, they are ignorant of the true benefits of HOTI to the realtors, especially the Buyer’s agent who may be involved in the sale of the property being purchased somewhere down the road.

There follow several reasons why this writer, a person who has conducted thousands of real estate purchases over more than 40 years of practice in Massachusetts, believes that realtors should provide whole-hearted endorsement for the purchase of HOI, not only for their customer’s benefit, but for their own, as well:

     1. If there is a title claim, it is more than likely that everyone involved int he purchase transaction, including the realtor, will be named in the litigation. This will mean that time, effort and money will need to be expended by ALL participants to exculpate themselves.

     2. If there is a title claim, no matter what the outcome, all people involved will be “tainted” with being involved in a transaction that didn’t turn out quite right. If there is HOTI, the title insurance company will absorb the costs from dollar one. It is unlikely that anyone, other than the person, or entity, certifying the title, will be involved in any of the proceedings. If anything, the realtor who endorsed the purchase of HOTI will seem like a hero for making such a practical, and ultimately beneficial, suggestion.

     3. Many times, your purchaser will be a seller some day. If the transaction went well, you will get the listing. Won’t you feel that much better knowing that while selling the property my have its owns set of obstacles, obtaining clear title will not be one of them if HOTI was obtained when the property was purchased. 

So the next time you hesitate, or even balk, when the subject of Home Owner’s Title Insurance comes up, think again. The deal you save may be your own!!!!