Here are just a few of the reasons for title insurance: Forgery Fraud in connection with the documents (even before you purchased the property) Undisclosed or missing heirs Wills not properly probated Mistaken interpretation of wills and trusts Birth of heirs subsequent to the date of a will Inadequate surveys Unsatisfied claims against your propertyRead more about Do I really need Title Insurance?[…]
Your closing agent can provide you with an exact cost of Owner’s coverage. A discounted rate is available when owner’s coverage is purchased at the same time as the loan policy.
Two types of title insurance are available. Lender’s Coverage is usually required by the lender. Lender’s coverage protects only the lender in the event of a defect in the title to the property. The cost of this insurance is customarily paid by the buyer. Back to top How much does Lender’s Coverage cost? The premiumRead more about What is Title Insurance and why do I need it?[…]
Visit the Home Closing 101 website for more in depth explanations concerning the closing process and its associated fees. Here you will also find plenty of information about the benefits of title insurance and get tips on shopping for your title insurance needs.
In some circumstances not everyone involved in a transaction can attend the closing. If this case should arise, the closing agent must be notified at least three days prior to closing. The absent individual is required to execute a “Specific Power of Attorney” which appoints someone to legally sign on their behalf in their absence.
A typical closing requires the following from the buyer(s): Funding: We require the buyer(s) to wire funds needed or bring a Cashier’s Check payable to Valley Title and Closing Services to our office at the time of closing. Your closing agent will provide you with wiring instructions. We cannot accept cash or a personal checkRead more about What do I need to bring to the closing?[…]
Once our office receives the purchase contract, we will contact you to schedule a time and location for the closing. For your convenience, Valley Title and Closing Services provides two locations: . Please visit our contact page for detailed directions to our offices. Offsite Closings: For the convenience of our clients, we can accommodate our clientsRead more about When and where will the closing occur?[…]
In a closing, title to real estate is transferred by deed. All necessary documents are prepared and disbursement of money is made for the purchase or finance of real estate and related costs. The settlement agent causes the deed or deed of trust to be recorded in the public record.
Bringing it all “Home” — the Closing After the searching for a home is done, the negotiations have been completed, the house has been inspected, and the mortgage has been applied for and committed to, the focus suddenly turns to the Closing, Settlement, or Escrow as it is known in some localities. For simplicity, inRead more about Closing Prep Tips[…]
The premium for Lender’s Coverage is based on the amount financed or borrowed in connection with the purchase of the property. Rates for each underwriter are filed with the state.