Why do you need title insurance?
To protect your investment against any of the following:
- A forged will or deed
- A signature by a minor or mentally incompetent person
- Fraudulent representations
- Undisclosed heirs
- Invalid divorces
- False affidavits
- Unpaid taxes
- Unreleased mortgages
- Lawsuits or judgments against a property owner
- Sellers who misrepresent their marital status
- Clerical errors in the records
- Confusion arising from similarity of names
- Undiscovered wills
What types of Title Insurance Policies are typically issued when I buy a home?
The owner’s policy is to protect the interest of the owner’s of the property. Typically, the seller pays for the buyer’s coverage. Please check with your real estate agent and review your offer to purchase.
The loan policy is to protect the interest of the lender. In most cases, a lender will require this policy when the buyer is obtaining a mortgage to purchase the real estate. Typically, both policies are issued at closing.
What is a Closing?
This is the time when the buyer(s) meet with the title agent to sign all of the loan documents required by the lender. The title company prepares a statement that discloses all fees, charges and credits in conjunction with your offer to purchase and loan documents. Typically the real estate agents are present. Normally, upon completion of a successful closing, the buyers will receive the keys to the property.
Please come prepared with a cashier’s check made payable to HOME Title Services for your figure given to you by your lender. If you would like to wire your money, please contact HOME Title to get our wiring instructions.
Please note: We require “good funds” upon the completion of the closing. We do not accept personal checks.
What is RON (Remote Online Notary)?
Remote Online Notary (RON) allows e-signing and electronic notarization to take place online from the convenience of your home or office. Here are a few situations where RON helps prevent potential delays in closing:
- Seller lives in another state
- COVID related health concerns
- Scheduling conflicts