Title insurance is the topic of conversation as the Champions DFW Commercial Realty Radio Show reaches its 50th podcast. Megan Piechowiak, of Gongloff Piehowiak Law, PLLC, joined Jim Kelley and Ron Taylor to discuss title insurance and their vendor partnership. Read this excerpt of their conversation and then hear the complete conversation in a free podcast download.
Jim Kelley: Thank you so much for joining us. Megan is a new relative vendor partner for Champions DFW. Megan, give us a little background, give our listeners some background and who you are and what you’re involved with in real estate.
Megan Piechowiak: So my partner and myself, Kelly Gongloff and myself Megan Piechowiak, we just opened our firm about two years ago. We are a transactional law firm and full-service title company. We do residential and commercial. We can help you with any sort of transactional legal help you need as well, real estate, oil & gas, business formations, wills of state’s probate, that kind of thing. As long as it doesn’t put us in a courtroom, we are in for it. But our main bread & butter at this point right now is as the title company. We are with Integrity Title, fee office with them and just keep building business.
Jim Kelley: You’ve got a great partnership with Kelly there, correct?
Megan Piechowiak: Yes. She is absolutely amazing. I couldn’t ask for a better partner in her. She has been awesome in handling the majority of our paperwork side of things. I do a lot of our marketing. I come out and do these sort of things and build our client base and make sure that they know what we can give to them and she makes it happen.
Jim Kelley: Well you’ve hit the ground running, Megan, and I appreciate all that you’re doing currently in title insurance and title policy. So let’s jump into that and explain to our listeners what you do do and how you go about your business. Let’s talk for a few minutes about title insurance and the importance of title insurance, what is it and why is it needed?
Megan Piechowiak: Yeah, it’s kind of a confusing concept. Most people don’t quite understand why am I buying title insurance? I already have homeowners insurance. Well, they’re two very different things. Your homeowner’s insurance is great if your house burns down or someone gets hurt on your property, but your title insurance is really protecting you and it’s protecting your lender so that if there are any defects in your title, they’re gonna come to your rescue. So you’re not gonna have to put up the money to lose your house that you have to fight a lawsuit that you really didn’t want be part of in the beginning.
It is a one-time payment, which a lot of people also don’t quite understand, and it covers the entire time that you own the house. And it’s a relatively small payment considering the value that you really get out of it. So basically that’s what title insurance is doing for you is it’s protecting your rights in the property so that you can make sure that no one’s going to come and take that property away from you.