Our Real Estate Closing Service includes a review of your real estate contract for pertinent information necessary to complete a thorough examination of the courthouse records (title search), the issuance of a title insurance commitment from that examination, the preparation of all documents necessary to close the transaction, the actual closing (settlement), forwarding the necessary documents to the courthouse for recording and the issuance of the Final Title Policy.
TITLE INSURANCE IN BRIEF:
An Owner's Title Policy: This Policy insures the purchaser of the land for the amount of the purchase price. A Mortgagee Policy: This policy insures the lender for the amount loaned to the purchaser in order for them to refinance their property.
OWNERSHIP AND ENCUMBRANCE REPORTS (O & E)
An O&E is a Title Search report reflecting the ownership of the land and any liens or encumbrances that might affect the same. No Title Insurance Policy is issued and our fee is $250. A municipal lien search is not performed in a Standard Ownership and Encumbrance Report.
Commonly known as a Mortgagee Policy: When an owner of real property (their home or residence) decides to refinance their debt, the lender will require (in most cases) that the owner purchase a mortgagee title policy insuring the lender for the amount loaned. You, the owner have the right to choose which title company to use. As you, the owner, are paying for it, you decide.