Frequently Asked Questions
Can anybody do a land title search? What information do I need to have?
To do a land title search, you should have the property's address, the deed number and the lot number. You should also have the folio and volume number of the Certificate of Title. You can also use the owner's full name, but this is not as accurate, as there are times when there may be multiple persons having the same name as the owner. Also, there can be more than one titleholder.
How long does the closing process really take?
Buying a new home and/or property is an exciting process, but there are also a lot of challenges and frustrations that came along with closing on a mortgage. Even when you and seller can agree on a closing date, this date is not set in stone and can change for many reasons.
What is title insurance and why do I need to buy it?
Title insurance is a product that insures the title to real estate. The title agency that conducts the closing is typically an agent appointed by a title insurance underwriter such as Old Republic National Title Insurance Company or First American Title Insurance Company. The two types of title insurance policies that are issued in most real estate closings are Owner’s Title Insurance and Lender’s Title Insurance. An Owner’s Title Insurance Policy insures the owner of the property that the owner of the property has good title to the property as of the date and time of the recording of the deed that conveyed ownership of the property to the purchaser. The lender’s policy insures the lender that the mortgage constitutes a valid and enforceable lien against the real estate that is encumbered by the mortgage in favor of the lender. Typically, when both and owner’s and lender’s title insurance policy is purchased at the same time at closing, there is discounted pricing available to the purchaser.