Real Estate Title Services

Make it legal using one of our trusted title services.

You have your choice of using Security 1st Title or Walnut Valley Title services to help with your closing transaction.

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When using one of our local trusted companies to help finalize your transaction, you can rest assured that you are in good hands.

You’re in the Home Stretch

You’re finally in the home stretch. You’ve signed a purchase agreement and it’s time to close on your new home. The title service company will help coordinate the details for a smooth and trouble-free transfer of title.

What is Title Insurance?

Title insurance protects the homeowner against mistakes or threats to their ownership rights that might otherwise result in a financial loss including those hidden and unknown items such as:

  • Mechanic Liens
  • Undisclosed Judgments
  • Improperly Executed Documents
  • A Married Person Conveying Real Estate Without His/Her Spouse
  • Invalid or Forged Deeds

Title insurance protection from The title service company is a permanent assurance that the homeowner’s ownership and use will be defended promptly against claims at no cost to the homeowner, whether the claim is valid or not.

What About Escrow?

Now that you are under contract or in “escrow”, the title service company will do extensive research to ensure you receive a clear title at closing. An “escrow” is an arrangement in which a third party, such as a title company or escrow agent, holds legal documents and funds on behalf of the buyer and seller and distributes them according to the buyer’s and seller’s instructions. The buyer and seller rely on the escrow holder to carry out their mutually consistent instructions.

There are two very important reasons for selecting an established escrow firm:

  • Real estate transactions require a tremendous amount of technical experience and knowledge.
  • The escrow holder will be responsible for safeguarding and properly distributing the deed and funds.
Each Party’s Responsibility in the Escrow Process

The escrow officer/closer’s responsibilities include:

  • Opening the order for title insurance.
  • Coordinating the closing appointments for both the buyer and seller.
  • Receiving funds and documents from the buyer and seller.
  • Preparing the final settlement statement, including tax pro-rations.
  • Paying the seller’s existing mortgage(s) and judgment liens, if any, and obtains releases.
  • Preparing and filing Seller’s 1099 form with the IRS.
  • Recording the deed and mortgage.
  • Disbursing funds.
The seller’s
responsibilities include:

Depositing the executed deed, other necessary closing documents, and funds, if necessary.

The buyer’s
responsibilities include:

Depositing funds, executing the note and mortgage (if applicable), and other closing documents.

Once all the terms and conditions of the instructions of the buyer, seller, and lender have been fulfilled, the escrow is closed and the safe and accurate transfer of property and money has been accomplished.

Understanding Title Insurance

A title policy insures your legal right to your new home. To make sure there are no past errors or legal entanglements that might affect your ownership rights, all properties are subjected to a title search before closing.

Two Kinds Of Title Insurance

The two kinds of title insurance are a lender’s title policy and an owner’s title policy. To protect their interest in your property, mortgage lenders require buyers to purchase a lender’s title policy. But such a policy does not protect the interest of you, the homeowner.

For this, you need an owner’s title policy. This pays for all court costs and related fees associated with any claim that might come up. Also, if a claim is found to be valid, your actual loss, up to the face amount of the policy, is covered.

The Cost of an Owner’s Policy

To get the kind of protection you really need against any potential title defect, an owner’s title policy is the way to go. It’s an excellent value for the coverage you receive. That’s right, we want to save you money if we can, whenever and wherever possible. That is why Security 1st Title offers discounts on difference types of services—some restrictions may apply, please contact your Realtor for more information.

Real Estate - Young Couple Sitting Amongst Boxes in Their New Home Drinking Coffee