Your Partner in Home Buying
We are the place where you come to sign all of your papers and get to celebrate all the hard work you’ve put into buying this house.
Title companies play a key role in making your home purchase official. They’re where all the final paperwork gets signed and where you’ll celebrate your big moment of becoming a homeowner.
What Title Companies Do
Title companies wear many important hats in the home buying process:
- They check that the home you’re buying has a clear title
- They make sure there are no liens or other problems with the property
- They act as a neutral third party between buyers, sellers, lenders, and realtors
- They handle the escrow account for your earnest money deposit
- They provide title insurance to protect your investment
Working with Your Title Company
When you sign a contract to buy a home, you’ll get to choose your title company. This choice is negotiable, which means you have a say in which company you work with. While the cost of title insurance is the same at every company (it’s based on the sales price of your home), the service and experience can vary.
Your earnest money – the deposit that shows sellers you’re serious about buying – goes into the title company’s escrow account. They’ll keep it safe until closing day, giving everyone peace of mind during the process.
Title Search and Common Issues
When buying a home, title companies do a thorough search to find any potential problems. Let’s look at the most common issues they might discover.
Types of Liens That Can Affect Your Purchase
If there’s any federal liens, if there’s child support that’s owed, that’ll come up.
Title searches can reveal several types of liens that need to be cleared before you can buy a home:
- Federal liens
- Child support liens
- Mechanics liens (from contractors who worked on the house)
- Vendor liens
- HOA liens (when sellers haven’t paid their dues)
Marital Status Matters
Your marital status plays a big role in the title process. The title company needs to know if you are:
- Married
- Separated
- Going through a divorce
- Divorced
This information must be correct because it affects who needs to sign the papers. The title search will show if someone is listed as “a married man” or “a married woman.” Both spouses might need to sign documents.
Identity Checks Keep Everyone Safe
Title companies carefully check everyone’s ID. This step is very important because:
- It makes sure the right person is buying the house
- It prevents the wrong spouse from signing papers
- It protects everyone involved in the sale
These checks help avoid problems and keep the home buying process secure. The title company’s careful work protects both buyers and sellers from future issues.
Understanding Title Insurance
When you buy a home, you’ll need title insurance. Let’s break down what it is and why it’s so important for your home purchase.
Two Types of Title Insurance
There are two main types of title insurance you should know about:
- Lender’s Policy – Required if you’re getting a mortgage
- Owner’s Policy – Protects your investment in the home
When you get both policies together, it’s called a simultaneous issue policy.
How Title Insurance Works
Your homeowner’s insurance, your car insurance, those work, to they’re working they assume risks, right? So we work to eliminate risks.
Unlike other types of insurance that protect against future problems, title insurance works differently. It focuses on finding and fixing potential issues before they cause trouble. This protection is especially important since buying a home is often the biggest purchase you’ll make.
What You Get for Your Money
Title insurance offers great value because:
- It’s a one-time fee based on your home’s price
- Coverage lasts as long as you or your heirs own the property
- It covers court costs if someone challenges your ownership
- It protects your investment in the home
Peace of Mind Protection
Title insurance gives you peace of mind knowing that:
- Your ownership rights are protected
- You’re covered against ownership challenges
- Legal costs are covered if you need to defend your property rights
- The protection continues even after you pass the property to your heirs
Title insurance is a smart way to protect what’s likely the biggest investment you’ll ever make. It helps ensure your home truly belongs to you, free and clear of any unexpected claims.
Working with Your Title Company
Your title company is there to help:
- They have systems to track what’s needed
- They’ll remind you about required items
- They keep you updated on progress
- They make sure everything is complete
By following these tips and staying organized, you’ll help ensure a smooth path to getting your new home keys. Keep in touch with your title company and respond quickly to any requests. This will help avoid delays and make your closing day a success.