Sierra Title

Frequently Asked Questions

Why do I need title insurance?

Simple, to protect the most important investment you will ever make, the investment in your home.

What is title insurance?

Title insurance is an insurance policy that insures your ownership interest to your piece of real estate. The title examination department of the title company carefully researches the history of the property you are buying to discover who has interests in the property such as lenders or tax authorities. They also search to see that the person selling you your home actually owns it and has not encumbered it with liens or judgments.

What are the costs of title insurance?

The rates for title insurance are set by the Texas and New Mexico Departments of Insurance. There is a one time premium that is normally paid at closing, and is based on the sales price or loan amount. You can find the rates published in this web site. There are also small closing costs for closing your sale or loan. This is separate and in addition to our policy of Title Insurance.

Who Pays for title insurance?

Who pays for insurance is negotiated at the time you sign the earnest money contract. There are two basic types of title insurance, Owner's Title Insurance (protection for the buyer) and Mortgagee's Title Insurance (protection for the lender). Traditionally, the Seller pays for the Owner's Title Policy and the Buyer pays for the Mortgagee's Policy.

What are some of the dangers of not having title insurance?

There are too many to list here. Some of the most common are things such as the seller not actually owning the property he is selling, outstanding liens against the property, unpaid taxes, an ex-spouse who has an interest in the property, Federal or State liens and suits, and forgery, just to name a few. Remember what Ronald Reagan said (concerning the Soviet Union), "Trust but Verify." The same is true when buying a home. Your title policy is your "verification."

Why have Sierra Title Company take care of my title needs?

Sierra Title Company has the most advanced, comprehensive title exam departments. Our examiners have many years of combined experience. This coupled with our superior bilingual closing and escrow staff and our convenient locations, guarantees you will receive the best title services in Texas and Southern New Mexico. Using our sister companies, Sierra Title can close transactions for properties in any part of the State and Southern New Mexico.

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