Choosing the Right Title Company for Ensuring a Safe and Successful Property Transaction! YOU Get To Choose Who Handles YOUR Transaction.
Yep, that is normal. Title nerds like us could dive deep into the protections and benefits, but here is the gist, as a new homeowner, with an Owner’s Title Policy, you are able to enjoy piece of mind knowing one of the biggest purchases of your life is CLEARLY yours and you are protected if anything prior to your ownership, like unpaid mortgages and other liens from previous owners.
A few other reasons:
1. In a financed transaction, Lenders require you to purchase a Lender’s Policy;
2. Owner’s Title Insurance is YOUR guarantee that the transaction was handled correctly and if there is an error, it is handled FOR you!
When it comes to the closing process, choosing the right title company is crucial, it’s about finding a partner who feels like “home” during this significant journey. The Title industry isn’t one-size-fits-all.
Our dedicated team is always ready to pick up the phone, guide you through every step, and ensure that you feel confident in the legitimacy of the instructions you're receiving. We recognize that becoming a homeowner is a monumental milestone, and our goal is to make this experience as smooth and memorable as possible.
With our experienced closing agents at your side, you can expect a stress-free process that allows you to relax and fully appreciate the excitement of your new home. Choosing Comprehensive Closing Services LLC means choosing a partner committed to transforming what could be a daunting process into a celebration of your new homeownership. We want to help you make this journey unforgettable!
Title insurance rates in Pennsylvania are set by the Department of Insurance, so they are the same everywhere in the state. This means prices for title insurance, Closing Protection Letters, and Endorsement fees won’t differ between companies.
Pennsylvania is one of the few states considered to be an all-inclusive rate state. This means that the “fee” the buyer pays for title insurance at settlement includes the title insurance premium, the cost of the title search, title examination, any escrows and title-related settlement services, and the insurance risk assumed by the title insurance company.
Title insurance agents can charge some extra fees, but there are rules. If the settlement is for a home with a mortgage, the Real Estate Settlement Procedures Act (RESPA) applies. RESPA prevents companies from charging for services they didn’t perform or for prices that don’t reflect the actual value of their services.
Some possible extra fees include:
- Document preparation (not including the main documents)
- Government fees for recording documents
- Overnight delivery fees
- Bank wire transfer fees
- Fees for receiving and printing certain documents sent electronically.
BEWARE: If you received title insurance as part of your closing transaction and were charged for the title search on that property, you should contact the Department of Insurance immediately!
When you're buying a home, choosing a good title company is really important. A title company helps ensure that the property you’re buying is yours and that there are no legal issues with it. Here are some key things to look for when selecting a title company:
1. **Reputation**: Look for a title company that has a solid reputation in your area. Check online reviews and ask friends or family for recommendations. A reputable company is more likely to provide reliable service and protect your interests.
2. **Communication**: Communication is crucial. The title company should keep you informed about the process and answer any questions you have. A company that communicates well can help reduce stress and make the transaction smoother.
3. **Fees**: Understand the fees associated with the title company’s services. Compare costs among different companies, but remember that the cheapest option isn’t always the best. Look for a company that offers clear explanations of their fees and what services they provide for those costs.
4. **Location**: Consider choosing a title company that is local or has a physical presence in your area. This can make it easier to meet in person if necessary and can also indicate that they are familiar with local laws and regulations.
5. **Customer Service**: Excellent customer service can make a big difference in your experience. Choose a title company that is friendly, approachable, and willing to help you at any stage of the process. Good customer service means you’ll feel supported and valued throughout your home-buying journey.
6. **Compliance**: Ensure that the title company follows all legal requirements and regulations. A compliant company will protect you from potential issues down the line and ensure that your transaction is handled ethically.
Selecting the right title company can greatly reduce stress and enhance your home-buying experience. At Comprehensive Closing Services, LLC, we prioritize clear communication. We aim to be the connecting force in your transaction, keeping you informed every step of the way. With our experienced team alongside you, you'll feel more confident as you navigate the complexities of purchasing a home. Remember, you’re not alone—support is always available to guide you through the process!
Great question! We are a crucial role in the home-buying process, serving as the final step. When you sign documents with us, our goal is to ensure everything is ready on or before your contract date.
Here’s a small insight to what we do:
1. **Title Search**: After receiving your contract, we order a title search to confirm ownership and identify any potential issues like liens.
2. **Document Preparation**: We gather necessary documents, including certifications for taxes, water, sewer, garbage, HOA dues, and condo fees.
3. **Mortgage and Lien Payoffs**: We address existing mortgage and lien payoffs to ensure you receive a clear title.
4. **Lender Coordination**: While waiting for lender approval, we communicate with sellers and agents to keep everything organized for closing.
5. **Closing Process**: On closing day, we facilitate the signing of documents, officially transferring ownership to you.
6. **Post-Closing Duties**: After closing, we record the new deed to document your ownership.
In summary, we handle the critical aspects of your transaction, ensuring a smooth process as you become a new homeowner!
A title search is a process that checks the history of a property to make sure the seller is the rightful owner and there are no hidden problems, like unpaid debts or legal claims against it. By looking at public records, it helps confirm that you can buy the house without any surprises. If everything is clear, you can feel confident that you will have full ownership of the property. If there are issues, they need to be resolved before you can complete the purchase, which could delay the transaction.
Our motto is #getitdone, and around here, we pride ourselves on being title nerds. Not all properties have a smooth history, but we go above and beyond to ensure your purchase makes it to the closing table—that’s our goal! For example, we once handled a property sold at a tax sale where liens followed the property, and the previous owners weren’t properly notified. We tracked them down, got a deed signed, and cleared the title issue, ultimately closing the transaction and issuing title insurance. Instead of the lengthy and costly “Quiet Title Action,” we found a solution! In another case, sellers forgot about a privately held mortgage and needed to lift the lien. We located the lien holders, who released the property, allowing us to close successfully. With us, you can trust that we will tackle any challenges to get your deal to the closing table!
In conclusion, our commitment is to serve your needs. While your contract closing date is not merely a preference, we recognize that there may be circumstances that necessitate changes to this date. We fully understand the significance of timely closings and will make every effort to facilitate your transaction to the closing table.
It is completely YOUR CHOICE. As a new homebuyer in Pennsylvania, it's important to understand the requirements for closing a real estate transaction. You have the freedom to choose who you work with during this process. While hiring a real estate attorney is an option, it's essential to note that much of the work may be handled by their staff, and you might primarily interact with an assistant. Typically, the attorney will review the title search, but only licensed title agents are authorized to issue title insurance.
In some cases, attorneys may receive your file on the day of closing, which can limit their familiarity with your specific transaction. While we respect and recommend several skilled attorneys, it’s crucial to choose one who specializes in real estate. An attorney without real estate experience may inadvertently complicate your closing.
In contrast, a licensed title agent or title company is specifically trained in this field. They are dedicated to the intricacies of title work and will typically be your point of contact throughout the entire process. This continuity allows them to address any issues that may arise and provide reassurance based on their familiarity with your file.
Ultimately, selecting the right professional can significantly impact your closing experience, so consider your options carefully.
