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::Exeter Title Company specializes in title insurance for residential refinances and purchases. The majority of home buyers and sellers have been informed the acquiring title insurance will give them the necessary protection from possible clouds or defects on title. However, many of our customers remain uninformed about why this is the case, or even what exactly is title insurance.At Exeter Title, we believe an educated customer is our best customer. The more one knows about title insurance and its pricing, the more secure you will feel about coming to us for your policy.
Why the seller needs to provide title insurance?
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First, to provide the buyer a guarantee that you are selling a clean title to your home. |
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Second, it will show that the home is unencumbered by any legal attachments or judgements. |
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Finally, it will assist to close your deal quicker with no surprises coming up at the time of closing. |
Why the buyer needs title insurance?
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First, without it you may not be protected against any errors in public records. |
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Second, this will give you protection from any prior liens, judgements or claims brought against yournew real estate purchase. |
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Finally, with it, you will be defended by us against all covered title claims. |
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Is title insurance expensive?
In a purchase transaction the seller’s attorney will generally choose the title company. If you are the seller you may wish to discuss what title company your attorney is an agent of, and whether their fee’s are in a reasonable price range for title companies in your area. However, if they are not you could exercise the option to find a more reasonably priced title company independently. When you have found a title company that is reasonably priced you may recommend to your attorney that he work with them to execute your sale and save you money on your bottom line.
How do I prepare for my refinance closing?
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Bring a cashier's or certified check to the closing for the amounts you must pay, not a personal check. |
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Bring an original Homeowners Insurance Policy to the closing along with a receipt for the first year'spremium. |
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If you are refinancing a condominium, bring a Certificate of Insurance instead. A Certificate ofInsurance can be obtained from your condo association or property management company. |
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Before the closing, contact your lender regarding any additional requirements that must be satisfiedprior to closing. |
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Bring personal identification that includes your picture and signature to the closing. If you have anexisting mortgage, a current pay off letter must be presented at closing. |
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Contact your lender for instructions on how to obtain a current pay off statement. If you are going tobe paying off credit card balances at the closing, the most current statements must be brought to theclosing. |
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If your property is a condo, bring an assessment letter from your condo association to the closing. |
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