Attorney Thomas B. Burton explains what title insurance is and discusses why you need it when entering into a transaction as a buyer or seller of a home or other piece of real estate in Wisconsin.
If you are selling a home yourself, check out my Sellers Flat Fee for Sale by Owner (FSBO) Package, available to assist you with this process.
Transcript of Video: What is Title Insurance in Wisconsin and Why Do I Need It?
Today's topic is real estate and
specifically, the topic of title
insurance if you're a seller the
standard Offer to Purchase in Wisconsin
that most realtors are going to use
requires a seller to provide title
insurance on or before the date of
closing to the buyer since a majority of
people use that form in Wisconsin it's
pretty common that the buyer expects the
seller to provide title insurance and
pay for it
title insurance is issued by a title
insurance company what they do is they
look at the chain of title to make sure
that you the seller actually have good
title to transmit to the buyer later if
a defect in the title was discovered
such as a lien against the property or
some other error in the chain of title
the title insurance would protect you by
defending you in the claim that you gave
good title to the buyer you can see in
residential real estate transactions
where homes can be 100, 200, 300 thousand
dollars this is a significant amount of
money and if you're putting that money
out you really want to make sure you get
good title so if you're a buyer I
recommend you always ask for title
insurance from the seller and if
you're the seller it's a good idea to
get title insurance to protect yourself
down the road you can get a quote from
many different title insurance agencies
if you work with me I can recommend some
your realtor will also have some it's a
good idea to get the title insurance and
just be aware this will be an extra
cost at the closing and in Wisconsin
generally, it's the seller that's going
pay for title insurance so that's
today's topic title insurance I hope
this has been helpful to you if it has
please like share and comment on this
video and thank you for watching!
© 2018 Law Office of Thomas B. Burton. All Rights Reserved.
Transcript and captions provided for ease of access for the hearing impaired.
For questions about this topic, or to suggest a topic for a future blog post, please contact my office.
#RealEstate #TitleInsurance #WisconsinTitleInsurance #ForSaleByOwner #FSBORealEstate #WisconsinLaw #EauClaireWisconsin #EauClaireAttorney #EauClaireLawyer #RealEstateLawyer #ChippewaFallsLawyer #ChippewaValley #WisconsinRealEstateAttorney #FSBOAttorney