Below are reasons why Title Insurance Companies want you to buy Title Insurance...
1. A one-time premium vs. fees for a Real Property Report with Compliance, fees for an Encroachment Agreement and Late Closing Interest.
2. Title insurance coverage in lieu of a Real Property Report.
3. You can also buy fraud and forgery coverage for the owner(s) of the property.
4. Coverage available for lack of building permits.
5. $50 one-time premium to cover boundary walls and fences up to $5,000.
6. Coverage for Stop Work Order Issues.
7. Coverage on Tax Issues.
8. Time - Speed = GAP coverage. Mortgage funds are advanced prior to registration of the transfer of land.
9. Title Insurance helps to meet the lender's requirements.
10. As well, existing problems with a title (known encroachments, etc) can be directed to the Title Insurance Company's underwriting team who will review the problem and determine and explain what coverage is available.
Ask your Century 21 Power Realty Ltd. associate for more information or go online to www.firstcanadiantitle.com