What is a Title Company

A Title Company is a licensed business that provides a number of essential services to the real estate industry, including title searches and title insurance. A title search is a detailed review of the history of a property in order to ensure that there are no liens, easements, claims or other issues that may affect the property’s marketability. If possible, the Title Company will help resolve any problems with the title.

Why do I need a Title Company?

Whether you are looking to invest, sell, or buy, having a competent and informed title company to handle all aspects of the transaction from start to finish is an absolute must. Not only do most lenders require the services provided by a title company, but real estate transactions are some of the most complex transactions, with a multitude of laws and regulations governing the process, whether there is a lender involved or not. Since homeownership is potentially one of the largest and most important financial decisions you will make, and most certainly a life altering one, the added protection for your investment and future provided by seeking professional services can only bring additional peace of mind and an assurance that the deal was done right and done well.

What is title insurance?
Put plainly, title insurance is a way to protect yourself from loss, whether financial or otherwise, in the event there are any issues affecting the validity of your ownership in the property or marketability of the title.

Among other items placed of record, when a property is financed or it’s ownership is changed, a record of that transaction should be filed in the local county’s public records. When you have a title search completed, these records are thoroughly researched and examined. However, even professionals may not be able to find all of the issues affecting a single property. Some things are difficult to find and others, like missing heirs in the chain of title, are practically impossible to anticipate. Title insurance helps make sure your investment is secure in the event of any discrepancies, errors, and more.

When financing, most often the lender will require a lender’s title insurance policy to be purchased by the consumer at closing. One common misconception is that, because the lender is insured, the homeowner is covered as well and should not be concerned. On the contrary. The lender’s policy protects the lender’s interest only and only persists until the loan is paid in full or refinanced.

Owner’s title insurance is paid for only once but will cover you as long as you own your home (or property) and protect you from a variety of potential defects. Since homeownership is potentially one of the largest and most important financial decisions you will make, and most certainly a life altering one, the added protection for your investment and future can only bring additional peace of mind.

What is Escrow?
The basic meaning of escrow is having an independent non-interested third-party hold money throughout the course of a transaction for disbursement to the appropriate parties once the terms of the contract have been met.

For a very general example, a lender may acquire our services for an escrow closing (which most will require) through which they will provide all of the loan proceeds to the escrow company, and the buyer will also supply their down payment. Once approved and closing is able to take place, the escrow company will then disburse the total amount of the proceeds being held in escrow to the remaining interested parties, i.e. the seller(s), real estate agent(s), and any other service providers involved in the transaction.

What is a title search, and how does it work?
Among other items placed of record, when a property is financed or it’s ownership is changed, a record of that transaction should be filed in the local county’s public records. When you have a title search completed, these records are thoroughly researched and examined to ascertain ownership, accuracy, applicable liens, lawsuits, property tax status, and any other claims to the property in question that could affect your purchase or ownership. Industry standards require these records are researched back a minimum of 30 years for residential property.
Can you accommodate out-of-town closings?
Yes, we certainly can! We offer a variety of options for the out-of-town client from handling documents requiring original notarized wet signatures via email and overnight to electronic signatures where possible to even coordinating with another company to set up a full witness closing in the town nearest and most convenient to the client.
What are "certified funds"?
Certified funds are defined as a form of payment that is guaranteed to clear by the issuing agency, i.e. a Cashier’s Check issued by a bank, a money order, or a wire transfer. As with many things in the harsh reality of our world, real estate transactions are not exempted from fraudsters. Requiring certified funds during the escrow process is just one additional way we protect our clients from such dangers.
What is wire fraud, and how should I avoid it?

Wire fraud is a federal crime that involves the attempt to deceive an individual, business, or entity into electronically conveying funds to another source by means of scamming, intercepting otherwise valid instructions or communications, or by other methods of deception. In real estate, one of the most common examples of wire fraud is intercepted electronic communications and wire instructions with the aim at replacing the correct account information with false information.

The best practice when it comes to all electronic communications involving sensitive information is to:

  1.  Secure the communication with program encryptions whenever possible.
  2. Avoid sharing sensitive information electronically altogether wherever possible.
  3. Contact the individual or Company making the request for information directly using a phone number verified by a separate and unrelated source to verify the instructions verbally.
  4. Never accept an unexpected last-minute change or request if you are not comfortable with it without first exhausting all efforts to verify the validity of the request and information provided.

Our office will never ask for a complete social security number via electronic means, and our wire instructions will never change mid-transaction. All suspect communications should be brought to management’s attention immediately upon receipt.

What are the closing costs associated?
Closing costs vary widely depending on multiple factors in any given transaction. Even so, the only fees we can even begin to anticipate are our own. See our Services & Fees or call us to request a quote specific to your needs today!
How do I purchase a title insurance policy?
Call us today! You will have to have an up to date title search of your property, and we can do that for you! Once we verify the marketability and insurability of your title, we will take care of it from there.
What are the payment options for your service?
Stand alone services are payable by cash or check only and are due upon request of said service.

Services rendered as a part of a full signing and escrow transaction, whether it be a lender closing, cash closing, or even an escrow only closing, are due upon disbursement date (the date the proceeds from the transaction are legally able to be disbursed to the appropriate parties). Fees due from the buyer/borrower will be included in the final total amount due for the closing in total and will need to be in the form of a cashier’s check payable to Quality Title & Escrow. Service fees owed from the seller will be deducted directly from the seller’s proceeds.

What is the best way to communicate with you? (phone, email, etc.)
We are available by most methods of communication. However, email is highly recommended as it gives both parties a hard copy of the conversation to look back on when necessary.
Are there any additional fees if I close on a house faster than expected?
No, there is no room for additional fees for efficiency in our book! If you close sooner than anticipated, the only obstacle will be scheduled availability.
How long does a title search take?
From the time a request for a residential title search is made and, in the event of a standalone search request without an escrow closing, the service is paid for, the turnaround time to the end product is usually 5-7 business days. Some exceptions may be made for multiple tracts or deed references, etc.
Is there a rush fee?
Rush requests are only entertained when the market permits and are at the discretion of the Company. However, whenever possible, a rush may be requested at no additional charge as, even when conditions are favorable, a rush cannot be guaranteed.
What types of properties do you service?
Currently, our offices are equipped to service all residential real estate transactions from land only to multi-family residential properties such as condominiums, duplexes, quadruplexes, townhouses, etc.,
How much notice should I give you to perform a title search?
Generally and also depending upon the scope of the services requested, a minimum of two weeks. If you have questions about your specific situation and timeline, reach out to us today!
How do I know who the current property owner is?
If you have the property address, you can most likely obtain this information from your local Property Value Administrator’s office.
How do I get a quote/rate estimate?

Call, email or reach out online for a quote specific to your needs!