Have you been thinking about private mortgage lending? How can a good title insurance company help?
Private mortgage lending has been increasing in popularity. It’s becoming more attractive to millions of Americans, and is only likely to continue on this trend. It can be a lucrative way to increase returns on an investment portfolio, if done right. So what role can your local title insurance company play in helping you invest more safely and profitably?
One of the most significant parts of navigating the private mortgage lending sector is the paperwork. If you want you capital to be protected, to ensure clear agreements on your desired returns, effective collateral, and to create paper assets which can have resale value then you need precisely crafted, executed, and recorded. This is where your title company can really help. If needed they may be able to refer you to an experienced real estate attorney.
Title Searches & Insurance
As with any lender making a loan you want to make sure who the owners are, what liens and other debt may be attached to the property, what easements or encroachments might exist, and what rights to the property are included or not. Your title company will perform title searches, provide insurance (typically at the borrower’s cost) and order surveys as needed.
The title company is where everything comes together. You need a great one who will not only ensure a successful closing, but that everything is signed and executed correctly, before your money is released.
In some cases your title insurance company can also be a great resource for obtaining referrals to effective and reputable investors and other borrower leads.
Who is your Michigan title company?