Frequently Asked Questions
What are Settlement Agencies?
How do I know if I want to use an Attorney/Title Company as my Settlement Agency for my closing?
The following are the differences between closing with an Attorney or a Title Company:
- Attorney: An Attorney can offer legal advice and prepare legal documents such as Deeds, Deeds of Trust, and Notes.
- Title Company: A Title Company can explain any and all things related to the settlement, such as title requirements, liens, disbursements and taxes.
If a Settlement Agent is not an Attorney, then they will have legal counsel who provides any legal services for their customers.
What is a Title Search?
The title search is an important step in buying your home because it involves carefully examining public records to determine who has valid interests and claims to the property. But even though this search is done, it is not insured.
What is Title Insurance?
You have the option to purchase title insurance when you purchase real estate. This is a one-time fee that not only covers you while you own the real estate, but also in the future. While title insurance is not required by law for you to obtain, it is required by lenders when getting a loan. Lender’s title insurance only covers the lender.