Frequently Asked Questions

Title insurance is a type of insurance that protects homeowners and lenders from financial loss due to defects in the title of a property. This includes issues such as outstanding liens, judgments, or claims by other parties with a legal interest in the property. Title insurance is typically required by lenders and can provide peace of mind for homeowners by protecting their investment in the property.

The cost of title insurance is typically shared by the buyer and the seller. The buyer is typically responsible for paying for the lender's title policy, while the seller may be responsible for paying for the owner's title policy.

A title search is a process used to research the history of a property's title and identify any potential issues or defects. This may include researching public records, interviewing previous owners, and reviewing any legal documents related to the property.

An escrow account is a neutral third-party account that holds funds for a property transaction. The funds are used to pay for things like closing costs, property taxes, and other expenses associated with the mortgage and/or sale of the property. The escrow account is typically managed by a title company or attorney, and the funds are disbursed according to the terms of the purchase agreement and lender instructions.

A closing is a meeting where the buyer and seller finalize the sale of a property. This typically includes the signing of legal documents, the transfer of ownership, and the disbursement of funds. The closing is typically managed by a title company and/or attorney, and both the buyer and seller are required to attend in person, with a mobile closer or through Remote Online Notarization if their state allows it.

Title search is a process used to research the history of a property's title and identify any potential issues or defects. A title insurance policy, on the other hand, is a type of insurance that protects homeowners and lenders from financial loss due to defects in the title of a property. While a title search can uncover potential issues, a title insurance policy provides protection against any issues that may arise in the future.