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Title insurance on a real estate transaction - a must have!  

What is Title Insurance?  Title shows & verifies who the owner / deedholder of record is. It is a history of the property to verify current owner and any outstanding liens or encumbrances like mortgages, IRS liens perhaps and anything else that could effect the title.

Why do I need it as a seller?   As a seller it is incumbent on you to provide clear title to the buyer.  This is typically a sellers expense at closing.

How much does title cost & when is it paid for? Title insurnace is a set rate per thousand and is regulated by the state. Therefore the cost should be similar regardless of the company you choose. Service and smooth closings (with no delays) is critical to the success of your home sale though.  For years we have enjoyed using Liberty Title as our partner. See Liberty Title here.  You can get an idea of cost here too with Liberty's calculator.

How does title work?  Basically, the title company acts like a big pot. Title can be ordered at the time of listing (pre title) or after the offer comes in. As we approach closing, the title company acts like a big pot. Everyone dumps their stuff in the pot. The buyer will put their down payment in, lender will put the loan proceeds in, seller will put their payoff in. A few days prior to closing the title company will produce the closing statement for everyone to review and verify the numbers.

Do I have to pay title up front? No. Again, everything is paid at closing.  Remember, the title company acts like a big pot. Everyone places their "stuff" in it and the title company produces the " Closing Disclosure" or closing statement a few days prior to closing to verify the numbers are correct. This way you as seller know your bottom line before you go into the closing.

What if I have an offer and it doesn't close?  No problem, you are not charged for title as we can use it for the next offer.