FAQs
What is Title Insurance?
Title insurance helps you feel comfortable that the title to the property you are buying is free of anything that could keep you from using the property in the way that you intend. A title search of the property allows us to find and resolve problems prior to closing, and the title insurance policy provides protection for as long as you own the property.
What is a title search?
In a sense, a title search is like compiling a genealogy of a parcel of land. We look at each transaction in the parcels history to make sure it was handled properly, and we make note of any problems along the way. We compile the results in a title commitment report you can review prior to the closing.
Why do I need Title Insurance?
A title insurance policy provides peace of mind for property owners. It protects against undisclosed property line discrepancies with neighboring parcels, utility or access easements, unreleased mortgages, claims of prior owners (such as heirs of deceased persons or ex-husbands or wives), delinquent property taxes, judgments that attach as liens, etc.
What is escrow?
Escrow is another word for the settlement process. Your Escrow Officer uses the information from the title commitment, along with information from your lender to prepare the documents necessary for closing. They will meet with you at the closing table to and review the documents with you.
Who chooses the title agency?
In general, the party paying the title insurance premium has the privilege of selecting their title agency. Often, when there are two title policies to be issued--one for the owner and one for the lender—the buyer and seller may each choose the title agency they wish to handle their side of the transaction.
What should I bring to the closing?
Generally, you just need to bring yourself, a form of identification, and a strong signing hand, as there may be a big stack of documents to be signed! It is important that you understand all the details of the transaction and your Escrow Officer will make sure any remaining questions are answered at that time