When it comes to commercial title transactions there is a lot of information to parse through. So much so that a first-time investor may feel overwhelmed. In this article, we are going to walk through what first-time investors need to know about commercial title insurance.
There are Different Types of Title Insurance Policies
The first thing to be aware of is that there are a few different types of title insurance policies. The two most common title insurance policies are the lender’s policy and the owner’s policy. The lender’s title insurance policy is typically required in most transactions and protects the lender’s interest in the property. The owner’s policy is different in that it protects the owner’s interest in the property. Owner’s title insurance policies are typically not required, but are always a good idea.
Find a Title Company Early
You will need to work closely with a title company during the commercial transaction process. Your title company will prepare all the requisite documents for your closing. They will also perform a title search on your property and prepare a title insurance policy for you. It’s important to find a title company early in the process so they have enough time to effectively prepare for the closing.
Commercial Title Closers
If you need an owner’s title insurance policy or are looking for guidance through your commercial real estate transaction, contact the experts at Commercial Partners Title today. We are ready and able to assist you with all of the specifics of your transaction as you prepare for the closing table. Our escrow agents, title underwriters, and closers can walk you through the process, prepare all of your documents, and make sure you feel secure throughout the process. Contact us today to learn more about our services and how we can help!