Real Estate Title Services

Security First Title

The following sections provide an overview of the title process:
• What is Title Insurance?
• What About Escrow?
• Each Party’s Responsibility in the Escrow Process
• Understanding Title Insurance
• Two Kinds of Title Insurance
• The Cost of An Owner’s Policy

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

To order title work goto www.security1stks.com

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
• Married person conveying real estate without his/her spouse
• invalid or forged deeds

Title insurance protection from Security First Title 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" Security First Title will do extensive research to insure you receive clear title at closing. An "escrow" is an arrangement in which a 3rd 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

Escrow Officer/Closer
• Opens the order for title insurance
• Coordinates the closing appointments for both buyer and seller
• Receives funds and documents from buyer and seller
• Prepares the final settlement statement
• Records the deed and mortgage/deed of trust
• Disburses funds

Seller
• Deposits the executed deed, other necessary closing documents and funds, if necessary

Buyer
• Deposits funds, executes the note and mortgage/deed of trust (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

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 where ever possible. That ís why Security First Title offers discounts on different types of services, some restrictions may apply, please contact your Realtor for more information.