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A Title Insurance Policy provides coverage for future claims or future losses due to title defects which are created by some past event. A title search is a close examination of all public records that involve the title to a piece of real estate and may uncover defects for correction before closing. If a title policy is purchased, it will cover you on: correction for problems that did not show up during the title search or were missed by examiners and errors in public records.
You are not obligated to purchase a title policy if you are paying for the property cash, but if you are obtaining a mortgage, lenders will require a policy in its name to cover its interests.
In a sale of a property, buyer and seller may negotiate the terms in regards to who will pay for the Owner’s Title Policy. If you are refinancing your home, it is likely that your lender will require a Mortgagee Title Policy and you will be responsible for the cost.
There are a number of defects that may affect your property or future property without your knowledge. A Title Policy may protect you against: Fraud, Forged Deeds, Unknown Heirs, False Affidavits, Unpaid Judgments, Unpaid Liens, Forged Documents and Improperly Indexed Documents. A Title Insurance Policy must be obtained in order for you to be protected against these title defects.
A title report discloses the current ownership, easements, restrictions, liens, and possible judgments relating to a particular property. This report can also be known as a Title Commitment and will be prepared before issuing the title policy.
If there is any title issues found after closing, the title policy will cover you in correcting those issues and will cover your loss up to the amount of the policy; if you are having title issues after you have closed on your property, please do not hesitate us or the title office that closed on your transaction.
Our Southwest office is conveniently located at 10080 Bellaire Blvd., #220, Houston, Texas 77072 – right off of Beltway 8 and Bellaire Blvd., next door to Halliburton on Rogerdale and Bellaire Blvd. Our office hours are Monday – Friday, 9 am – 5 pm. If you need directions, please do not hesitate to call us at 281-498-9900; we would be happy to help.
Due to each real estate transaction’s unique circumstances, we are unable to provide an accurate and comprehensive estimate without further discussing your individual transaction; please call our office at 281-498-9900, and we would be delighted to provide you with an estimated quote.
Mortgagee Title Policy may be obtained at a discounted price, subject to refinances occurring within 7 years. The amount discounted is based on the number of years from prior closing and amount of the current mortgage payoff.
We, here at First American Title, pride ourselves on being flexible so you are able to have a smooth closing. If you live out of state or will be out of town at the time of closing, we can send a notary to you for your closing at the location of your choice. If you are out of the country, we can send closing documents to you to be executed at the US Embassy or Consulate in that country. Please do not hesitate to pick up the phone and give us a call so we can help accommodate your needs.
Opening title on your sale is easy; please send us a copy of your fully executed contract along with the earnest money check made out to First American Title, and we will have your order opened on the same day. We will send you a confirmation of your order and notifications on changes in the status of your order as we progress on the closing of your transaction.
To open title work on your refinance, please contact your lender and provide them with our contact information. Please inform them that you would like us to assist in your refinance and they will send us a request to open title work. We will send a confirmation of your order and notifications on changes in the status of your order as we progress on the closing of your transaction.
The regular turnaround time for title work is 3-5 days. If you need the title work sooner than that, there’s no need to worry; let us know and we will place a RUSH on your order. Rushed orders have a turnaround time of 1-3 days!
Most closings will occur within one month’s time, but if you have a transaction ready to close, we can close within two weeks from time of open order, depending on clearance of title defects.