TITLE PROCESS

Closing your Transaction is our top priority, starting with a professional and knowledgeable staff.

We make every effort to close your transactions in a smooth, timely, and professional manner. Each file is assigned a closing team consisting of a processor and a closer to handle all requirements and ensure a smooth transition. Their dedication to detail accentuates Olde Towne Title’s commitment to quality service.

1. Title Order

The title order is received to initiate the request for title insurance. An order is opened for title insurance with a title processor who contacts the customer promptly within forty-eight hours. The title commitment will identify all the requirements needed for closing.

Olde Towne Title can also issue a preliminary title commitment with a minimum of information. A commitment can be issued before a contract is signed to identify any existing issues that may delay closing. If issues exist in the back title, the closing team can begin working on clearing up these issues before the property goes under contract.

2. Title Searches

The title abstractor performs three searches: property search, name search and tax search. The abstractor acquires hard copies of recorded documents. Copies of tax bills are obtained from the county the property is located in to ensure property taxes are up to date.

3. Examination of all documents

The skill and expertise of our closing team is the key to providing you with a useful and accurate title commitment. The closing team will review the documents to ensure a marketable title. The documents are examined for things such as a correct legal description, marital status on deeds and mortgages and proper notary acknowledgement. Once the pertinent documents are reviewed, the title commitment is issued.

4. Meeting closing requirements

At this time the closing team will review the requirements on the commitment and begin gathering information. Some of the information needed is payoff information on existing mortgages (account numbers and social security numbers from the sellers), homeowners association information, ordering a survey if needed, buyer/seller information such as marital status and future mailing addresses, title vesting, and contact numbers. If a new mortgage involved, the closing team will contact the new lender and work with them toward closing.

The closing team brings together all parties involved in the transaction including real estate agents and their customers, lenders, surveyors, property management companies, and any other entities related to the specific file. By understanding the sometimes delicate balance of the interests of the parties to a transaction, by being professional and courteous, handling issues as they arise, we can smoothly guide a transaction to a successful conclusion.

Real Estate Agents Benefits

Olde Towne Title relies on the underwriting expertise of Ticor Title. The coverage of a Homeowners Title Insurance Policy provided by Ticor Title offers benefits to Realtors as well as customers by:

* Reducing the Real Estate Agent’s exposure in a transaction regarding certain regulatory matters.

* Increasing the client’s satisfaction and confidence by providing the finest protection available.

* Helping to ensure the client’s ability to resell the home in the future, free of potentially damaging title problems.

* Giving the Realtor and client peace of mind in the complex, ever changing world of real estate.

Informing clients about title insurance coverage such as the Owners Policy gives them peace of mind. With superior coverage issued through a well known and reputable insurer, Realtors and clients benefit from this protection.

Homeowners rely on the reputation of a respectable title insurer to back their policies for years. Ticor Title has a strong history of providing homeowners with the most up to date title and escrow products in the industry. Homeowners can feel at ease with Ticor Title knowing they are insured by one on the nation’s top title insurers. To find out more about Ticor Title and their background, go to www.ticortitle.com .

The title insurance policy gives your clients the most through and comprehensive coverage in the industry. The policy includes the following basic coverage:

* False impersonation of the true owner of the property
* Forged deeds, releases or wills
* Undisclosed or missing heirs
* Instruments executed under invalid or expired power of attorney
* Mistakes in recording legal documents
* Misinterpretation of wills
* Deeds by minors
* Deeds by persons supposedly single, but in fact married
* Liens for unpaid estate, inheritance, income or gift taxes
* Fraud

As agents, you can contact Olde Towne Title to get a quote on an upcoming contract or an estimate based on a listing. You can also get a quote from the closing calculator on the web-site. If your clients have questions regarding the coverage, the staff at Olde Towne Title is available any time to assist in answering those questions.