Frequently Asked Questions

• Comply with all lender requirements for approval of your mortgage
• Determine your homeowner’s (hazard and fire) insurance needs
• Confirm loss payee clause with lender
• Contact your insurance agent to determine coverage needed
• Secure an original insurance certificate and a one year paid receipt
• Call your closing coordinator with premium amount, insurance agent’s name, and phone number
• Contact utility and cable companies
• Contact your closing coordinator for special arrangements if all parties cannot be present at closing

• Wire the amount due at closing (contact your closing coordinator for additional information)
• Photo identification (driver’s license or passport) for notary purposes
• Social Security numbers
• Closing conditions and any special documentation required by your lender

• Escrow officer will collect all your lender requirements
• Final settlement statement will be reviewed and signed
• Closing documents will be reviewed, signed, and notarized
• Information on homestead exemption will be provided
• Funds are collected and disbursed
• Keys, garage door opener(s), and other property information exchanged

• Protection for as long as you or your heirs own the property
• Coverage's that insure the past
• Reduced title premium fees if you should refinance (no time limit) or sell your property within 3 years of purchase

• Claims by someone who has a hidden interest in your property
• Documents which are not prepared, signed, acknowledged, delivered, or recorded properly
• Forgery, fraud, duress, incompetence, incapacity, or impersonation
• Unmarketable title, which allows someone else to refuse to perform on a contract to purchase, lease, or make a mortgage loan
• Liens recorded against the property during previous ownership

If you are purchasing a home with new financing, you’ll be required to purchase a lender’s title insurance policy.

In other words, the lender’s policy protects the outstanding balance of the mortgage for the lender, but it DOES NOT protect you or your interest in the property. To protect your interest in the property, you will be issued an owner’s policy of title insurance. This policy is paid by the seller (per contract) and mailed to you along with your recorded warranty deed after closing.