What to look for in a title commitment?

What to look for in a title commitment?

In the days leading up to closing, there are many documents that need to be prepared. As a buyer, you will be asked to review a lot of paperwork to ensure everything is in place for closing. One of the documents presented to you will be a Title Commitment Letter. At...
What is a closing protection letter?

What is a closing protection letter?

A Closing Protection Letter (CPL) is a contract between a lender and a title insurance underwriter in which the underwriter assumes liability for actual losses caused by a closing agent’s act of fraud, negligence, or incompetence. When Did Closing Protection Letters...
What is a closing agent?

What is a closing agent?

A Closing Agent, in some states known as a Settlement Agent, is a professional who is trained in real estate transactions and legal compliance. The agent coordinates the accurate and compliant closing of real estate transactions. The closing or settlement takes place...
Is title insurance transferable?

Is title insurance transferable?

To properly answer this question it is necessary to first clarify between two distinct types of title insurance: Lender’s Title Insurance and Owner’s Title Insurance. A lender’s policy is required by most banks and mortgage companies to protect their interest in...
How School Zones Affect Home Buying

How School Zones Affect Home Buying

When reading home listings online, you often see mention of school zones and access to quality schools. In general, parents want to live in neighborhoods that allow their children to attend the best schools. However, schools zone impact far more buyer decisions than...