When to Purchase Commercial Title Insurance img

When to Purchase Commercial Title Insurance

calender icon 5/9/2023    poster icon  Mark Goodman

Commercial transactions are complex and many people want to know when in the process they should purchase title insurance for their commercial property. In this article, we are going to talk about the title insurance process and when you should consider purchasing a policy for your commercial real estate transaction.

The Sooner, The Better

The short answer to our question is – the sooner, the better. If you are seriously considering purchasing a commercial property, contact a commercial title insurance company as soon as possible. The earlier you get the ball rolling on the title insurance side of things, the quicker you can get to the closing table.

Information to Provide

It’s a good idea to contact your title company as early in the process as possible. That being said, title search process won’t be able to begin until you provide the earnest money contract, signed by the buyer and the seller. Using those preliminary details, your title experts will be able to complete a title search and formulate a title report and title insurance commitment. Depending on what is uncovered during the title search, this process may be delayed or drawn out more than most people anticipate. For that reason, it’s a good idea to contact your title company as quickly as possible to get things going and to ensure a smooth transaction.

Title Insurance Experts

If you are looking for help with your upcoming commercial real estate transaction, contact the team at Commercial Partners Title Company. Our real estate attorneys, title closers, and escrow agents have been helping clients across the country with their commercial real estate transactions. We are recognized across the country as the experts in commercial title insurance. Give us a call today to set up an appointment at our downtown Minneapolis office and discuss your commercial transaction with our team of title experts.