Frequently Asked Questions

Title insurance is unique as it protects those from unknown liabilities in the past; other insurances focus on protection from future incidents. Some things it can protect you from are other parties’ claim to the title, easements on the property, or legal consequences of past owner’s.
Additionally, premiums for title insurance are issued once at the time of real estate purchase.
When you are a seller, the title company will provide you with a title commitment, gather necessary mortgage information from you, and meet with you to sign the closing documents that are needed to transfer ownership of your home. The title company also takes in and disburses all the funds that are required to purchase/sell the home.
Seller financing is when you purchase a property and the seller finances the transaction, instead of a traditional lender. There are a couple of different ways to do this, including ways that protect the seller should the new owner default.
An Escrow account is usually used when there is a dispute between a buyer & seller on where funds should be allocated. These funds will be held with a third party who only distributes the funds once an agreement has been made.
If you are buying a home, the title company will coordinate with you and, if necessary, a lender to ensure that the closing goes smoothly. Once the title company receives the loan docs from the lender, you will get scheduled to sign the closing documents. After signing, the loan documents are sent back to the lender for review and then the lender will send to the title company the necessary funds to purchase the property.
A title commitment is, essentially, a written document in which the title company promises to deliver a policy to you as long as certain requirements are satisfied (such as paying delinquent taxes, collecting HOA dues, or paying off the current mortgage).