Timeline of Home Buying and Title Insurance
"Title Tuesday" continues with with a look at the tightly intertwined process of home buying and title insurance.
Together, real estate agents and title insurance professionals protect home buyers by providing them with the peace of mind they deserve during the home closing process.
Home Buying & Title Insurance Process
- Houlihan Agent finds the buyers their dream home
- Accepted offer “AO”
- Choose attorney & sign contracts
- Order title insurance when contracts are signed
- Choose title insurance provider
- Title search is performed
- Search of the public records reveals the chain of title, judgments and liens
Any title defects are found and cured
- Title Readers review the records and identify any issues affecting clear title
- The Clearance / Legal Department work in conjunction with the attorneys to resolve any issues and cure any title defects
- The average time from title order to closing is typically 45 – 60 days
- Once all parties are ready to Close and transfer ownership of the property the title company is contacted to schedule the closing. A title closer is scheduled to attend the closing, all final clearance issues are resolved and the policies and closing affidavits are prepared.
- Closing & Title policies
- The Closing is typically attended by the buyers, the sellers, their attorneys and an attorney representing the lender, if any. The title company is represented by an independent title closer. This closer acts as the conductor of the closing and they ensure that all the necessary documents are properly executed and if all the necessary conditions are met will present the title policies at the conclusion of the closing.
- Move in day
- The Deed, Mortgage and any other necessary documents are recorded in The Office of the County Clerk by the Title Recording Specialists.
- The home owners have peace of mind the policy will defend them, or their heirs, against claims.
TIMING IS EVERYTHING...
Empower your buyer with the knowledge that they can CHOOSE their title insurance provider and by using Thoroughbred Title they will benefit from lower title premiums and lower fees as early in the process as an accepted offer!
Won't they be happy to hear that they have an accepted offer and there is a way to make the necessary steps of home buying even more affordable!