Save your clients money and time
Real estate transactions involve significant due diligence and investigative searches. Title insurance from Stewart Title often reduces the off-title investigative searches involved in closing, saving your client money and leaving him/her with funds that can be used towards the home or mortgage payments.
The discovery of a last minute title or off-title defect may prevent a transaction from closing on time. In such instances title insurance is often used as a problem solver. Our experienced underwriters can work with your client’s lawyer/ notary to provide coverage for many known defects. The ability to underwrite such defects often facilitates the closing of a transaction that otherwise might not close.
Title insurance premiums
Title insurance is available for a low premium that is paid only once at the time of closing, and coverage is valid for the entire time your client owns his/her home. The cost of the premium is often offset by the savings from the reduction in the number of searches the lawyer/ notary might have to complete. Additionally, a title insurance policy can be obtained to satisfy lender survey / RPR/ Building Location Certificate requirements, thereby saving your client the cost (upwards to $1,200) of an up-to-date property survey / RPR/ Building Location Certificate.
Types of policies
Stewart Title also offers commercial title insurance policies and gap coverage.
Policies can be issued all across Canada for:
- residential dwellings of up to six units
- vacant land
- leased land
For a one-time fee, some of the covered title risks for residential properties include:
- someone else owns an interest in your title
- existing liens against the title
- violations of municipal zoning by-laws
- encroachments onto an adjoining property (other than fences and boundary walls)
- setback violations
- realty tax arrears
- outstanding municipal utility charges, provided such charges form a lien on title
- existing work orders
- lack of legal access to the property
- unmarketability of the land due to adverse matters that would have been revealed by an up-to-date survey / RPR/ Building Location Certificate
- fraud, forgery and false impersonation to the extent they affect the validity of title
Stewart Title can also provide additional title insurance information that can be part of your regular client mailings.
Contact us for more information.