OWNERS TITLE INSURANCE, WHY?
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Protect YOUR Investment
You ensure everything else valuable to you - your life, car, health, etc., why not your largest investment? For a one-time fee, owner's title insurance protects your property rights from unforeseen legal and financial title discrepancies for as long as you or your heirs own your home.
WHICH POLICY IS RIGHT FOR ME
An Owner's Policy offers basic coverage, while an Enhanced Policy costing 15% more, provides expanded coverage. The amount of coverage offered on the property increases over time as the value of the property goes up. (10% per year for the first 5 years)
STANDARD
- Coverage against common title defects including
- Undisclosed heirs
- Mistakes in recording
- Errors in tax records
- Someone claiming ownership interest
- Forgery or impersonation
- Someone having the right to limit your use of the land
- Erroneous or inadequate legal descriptions
ENHANCED
All coverage under the standard policy for a total of 32 covered risks including
- Zoning Violations
- Subdivision Law Violations
- Unmarketability of Your Title
- Post-Policy Forgery
- Easements
- Building permitviolations
- Lack of vehicular and pedestrian access
- Your neighbor builds any structures after the policy date that encroaches onto the land
- And MORE
With deed fraud at an all-time high, it is necessary that we remain active in protecting our greatest asset from the bad guys.
FIRST………….. Julie opens all new orders. Send your accepted purchase contract to titleorders@homeservicestitle.com
Prepare both buyers and sellers for closing.
BUYING A HOME IS AN EXCITING AND EMOTIONAL TIME FOR MANY PEOPLE. To help you buy your home with more confidence, make sure you...get Owner’s Title Insurance. HERE’S WHY IT’S SO IMPORTANT FOR YOU:
Home Services Title wants to make your real estate transaction as smooth as possible.
WHAT HAPPENS AFTER SIGNING? The loan documents are returned to your lender for review. Once the lender authorizes us to close escrow, we will contact you or your agent with the good news. WHAT WILL I GET IN THE MAIL AFTER CLOSING? You will receive your final Settlement Statement - be sure to keep it for tax purposes. You will also receive a title policy and recorded deed showing your ownership. Finally, you will receive an information package from your new lender. WHEN DO I GET MY KEYS? Your real estate professional will handle the key exchange. It typically happens once your lender allows us to record the transaction. HOW DO I MAKE MY FIRST PAYMENT? You should have received a temporary payment coupon with your loan documents at the signing - you may need to use it to make your first payment. Within a few weeks, you should receive coupons /statements directly from your lender. UTILITIES You will need to contact the utility company to transfer utilities into your name before you move in. The seller’s final utility bill is not handled through escrow; you must address the transfer directly with the utility company and the seller so that you are not billed for those services.
Things to consider before closing.
Tips to Detect Fraud
Understanding the Basics of the Ohio Good Funds Law
The Long and the Short of it...Tax Proration.