What is a title?

A title is the foundation of property ownership. It is the owner's right to possess and use the property.

What is Title Insurance?

Title Insurance is a type of insurance that protects the policyholder against loss sustained through title defects.

What are some examples of title defects?

Judgments, liens, unsatisfied mortgages, unpaid taxes, mistakes in public records, etc.

What is a closing?

Closing, is the event where title to the property is transferred from the seller to buyer.  At the closing all financial issues and all necessary paperwork to complete the transaction between the buyer and seller is handled. The Closing is typically held at the tile company but may be held at the realtors or mortgage broker’s office. 

What are closing costs?

Closing costs are all costs required to complete the transaction.  They can include (but are not limited to) Title insurance, realtor fees, appraisal fees, survey fees, prorations for taxes and maintenance(if in an association), lender fees, and the balance of the down payment. Prior to the closing you should review your final Hud-1 Statement and ensure that all calculations are correct and that you have been given credit for any deposits and all the credits agreed upon by the buyer and seller.

How long does a closing normally take?

A typical real estate closing with a mortgage involved takes about an hour.  Delays may occur so schedule adequate time for your closing.

What do I need to bring to closing?

All parties must have a valid state or government issued photo id and one other form of ID, any funds due at closing must be in the form of a cashier’s check or wired to our bank beforehand.  Each transaction is unique and you will be informed of any additional items needed for closing.

I’m out of town do I need to be at closing?

No.  We can have your documents sent to you via overnight service, you will need to sign the documents and have them witnessed and notarized.  Kindly inform our office in advance if you will need this service.

Any questions not answered kindly feel free to contact our office.