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Last Updated: Oct 31, 2024
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For Buyers Once we receive your contract, we begin the closing process. This usually includes ordering abstracting work followed by an attorney examination of the abstract to identify any defects in the chain of title. Once the attorney’s opinion is delivered to our office, we generate a title commitment that is then sent to your lender for their underwriting purposes.
For Sellers After your contract arrives at our office, we will order the abstracting and send the same to the examining attorney. If any title defects are found, we will work with you and the attorney to clear the issues. Once the title is clear, we will work with the buyer to prepare the file for closing. If you currently have any mortgages or liens against the property, we will order the payoff statements and make them a part of the settlement statement. When all parties complete the signing process, we will finish the funding of the sale and send payment for all liens and/or mortgages against the property to the appropriate entities. Title Insurance Title insurance is provided by a licensed title agent and once in place, you are protected against risks and insured against loss. Our title insurance is underwritten by First American Title Insurance Company, a nationwide leader in real estate title insurance. Title insurance not only covers defects shown on the record, but also covers defects not revealed by a title agent’s or abstractor’s search of the public records. Title insurance can and should be purchased by both the owner and the lender. The title insurance premium is paid only once. The coverage lasts for as long as the insured has some liability for a title defect, whether as an owner of the property or as a lender.
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