Questions & Answers
Q. WHAT DOES A TITLE COMPANY DO?
A. A surprising amount of work goes into coordinating a closing. First we do the title search. After determining title is clear (or can be made clear), we then issue the commitment to insure. We then handle the details necessary to bring all interested parties to the closing table; buyers, sellers, realtors, and lenders. Closing is scheduled, documents are prepared, figures are calculated. At closing, all the documents are explained, questions answered and funds disbursed. After closing, deeds and mortgages are recorded and final title insurance policies are issued.
Q. WHY DO I NEED TITLE INSURANCE?
A. To insure against any challenges to your ownership of the property. For example an old, unpaid tax bill suddenly surfaces. Or an unknown heir comes forward and makes claim to the property. If this were to happen, your Title Insurance Company would defend your ownership at no cost to you.
Q. I'M REFINANCING MY MORTGAGE AND ALREADY HAVE TITLE INSURANCE. WHY DO I NEED MORE?
A. You don't. You're already insured. When refinancing, a new title policy is purchased for the Lender. They must be assured that taxes are paid and all liens cleared before their mortgage is recorded.
Q. WHAT DO I NEED TO BRING TO SETTLEMENT?
A. A certified or bank check for the funds needed to close and a 1-year paid recipt for homeowner's insurance policy are all that is usually required. Our office will call several days prior to settlement with the final $ figure and at that time review anything else that might be necessary to close. It is important that you bring positive identification, preferably a current picture driver's license or passport. If your name has changed due to a recent marriage, please bring a copy of your marriage certificate/license.
Q. LEAVING WORK IS DIFFICULT FOR ME. CAN I CLOSE AFTER WORK?
A. YES! We're happy to schedule your settlement in the evening or on Saturday.