Question 1

What is Title Insurance?

Accepted Answer

Title insurance protects you against potential legal or financial issues that could arise from problems with the ownership history of your property. When you buy a home or refinance, a title company conducts a thorough title search to uncover any issues — like unpaid taxes, liens, fraud, or disputes over ownership. Title insurance provides coverage if something is missed or a claim arises in the future.

There are two types of title insurance:

Lender’s Title Insurance (required) protects the lender’s investment in your home.

Owner’s Title Insurance (optional but highly recommended) protects your ownership rights and financial interest.

Unlike other types of insurance, title insurance is a one-time cost paid at closing, not a monthly premium.

Question 2

What Should I Expect at Closing?

Accepted Answer

Closing is the final step in your home buying or refinancing process, where ownership officially transfers. At closing, you’ll review and sign important documents, pay any remaining fees, and receive the keys to your new home. Your title company and other professionals will coordinate to ensure all paperwork is accurate, funds are distributed properly, and the transaction is recorded with the county. Expect clear communication, guidance through each step, and answers to any last-minute questions.

Question 3

Why Should I Submit Preliminary Title Reports?

Accepted Answer

Preliminary title reports give you an early look at the property’s title status before closing. They reveal any existing liens, easements, or ownership issues that could affect your purchase. Submitting these reports helps identify and resolve potential problems early, ensuring a smooth closing and protecting your investment. It’s a crucial step in making sure your ownership rights will be clear and secure.

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