Congratulations! You’ve found the perfect home and your offer has been accepted. Now it’s time to begin your journey from offer to closing. The weeks ahead will include all of the preparation necessary to ensure you enjoy a long and stress-free period of ownership of your property. The title insurance process is a key component of this process.
It All Begins with A Little Research
Our team of professionals begins by exploring the history of your property to find any potential claims by previous owners, lost hires, tax issues and more. If we find anything, we’ll fix it with the proper authorities so that when you sign your paperwork, you can be sure the house is yours.
Your Lender Wants an Extra Layer of Protection
Once we’ve cleared the deed to the property, your lender will ask us to issue a title insurance policy known as a Lenders Policy. Your lender doesn’t like to leave their investment in your mortgage to potentially unknown issues that could arise in the future. This policy guarantees that your lender is the first and best lien on your new home.
You’ll Need to Decide if You Want Protection Too
At this stage, you will have the opportunity to pay a one-time premium to protect yourself against potential claims against your property that may not be public record, past liens, encumbrances, or even defects. These are the same protections your lender is purchasing a policy against except your policy protects both you and your hires to the property. It’s a one-time investment that protects your family’s property rights beyond even your lifetime.
Then We’ll Begin the Escrow Process
Escrow is like limbo for your home and money. However, trust us when we say this is for your benefit. The Escrow Agent is a third party that has the authority to hold funds on behalf of both the buyer and the seller until the agreement is finalized. It is the job of the Escrow Agent to be sure that both parties hold to their end of the bargain to ensure a smooth and fair transaction. When you “close escrow,” the funds will be disbursed, the documents will be signed, and the transactions will be recorded.
Congratulations! You Just Purchased Property.
As your trusted title insurance partner, it is our job to ensure you enjoy a smooth real estate transaction and long ownership of your new home. We want the American dream to be as vibrant as ever. We also want to make sure that every person who takes advantage of these unique opportunities retains their claims as the owner of these properties as long as they should decide to do so. We hope you’ll allow us to join your next transaction and protect your family’s next investment.