Smart investing can set you up for retirement and ensure that your children and grandchildren will be financially sound long into the future. Picking out the right investment is important, but so too is mitigating your risk and preventing a major financial loss. At Commercial Partners, we want to help you find the right investment property for your portfolio, but we also want to protect your interests through a title insurance policy. In today’s blog, we spotlight five reasons why investors need commercial title insurance to protect their financial future.
Invest In Commercial Title Insurance
Commercial title insurance is a must for any commercial investor. Here’s why:
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Protection Against Title Claims - We work incredibly hard to clear a title prior to any acquisition, but if someone eventually makes a claim on your title, you are protected. Legitimate or not, you’re going to know that your financial interests are protected if an ownership dispute develops at some point while you own the property. Title insurance also covers the cost of legal fees associated with proving the property is yours, so your financial interests are protected even if you have to go to court to show that you’re the rightful owner.
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Lifetime Protection - Unlike different types of insurance that offer term policies, title insurance is typically good for as long as you hold the property. This means that you’ll be covered if someone makes a claim on your property one day or 20 years after you acquire the property.
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Fraud Protection - Scammers are getting better at what they do, but you can have peace of mind knowing that your investment is protected from fraud when you purchase title insurance. If someone fools the city clerk’s office with forged documents or false identities, your investment is protected. This may sound like something that never happens, but tens of thousands of commercial investors are subjected to scam attempts every single year, and insurance ensures that you aren’t victimized.
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Increased Marketability - If you’re purchasing a commercial property as an investment, you need to be ready to sell when the time is right. Working with a commercial clearing team like Commercial Partners, securing title insurance can increase the marketability of a property, showcasing a clear chain of custody free from disputes or liens to potential buyers. You want a clean title when purchasing a property, so it stands to reason that you want a clean and insured title when selling a property.
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Small Price For Peace Of Mind - Hopefully you’ll never need to rely on title insurance, just like you hope to never need to rely on health insurance or automobile insurance to offset a major expense, but you’ll be glad to have these types of coverages if you need it. Title insurance is a small one-time expense that can provide lifetime coverage and peace of mind in the event that an issue arises. An unexpected title issue can wipe out decades of savvy financial moves, so protect your interests and sleep easy at night knowing your investment and your family’s financial future is protected.
Don’t move forward with your next investment property without commercial title insurance, and we can help you with any aspect of this process. For more information, give the team at Commercial Partners a call today (612) 337-2470.