APPRAISAL
CREDIT REPORT
POINTS
ESCROW
HAZARD INSURANCE
INSPECTIONS
SURVEY
RESTRICTIONS
Title insurance protects against loss that arises from
issues connected to the title to your property. Think of
it in this way. Before you purchased your new home
chances are that the property and or home changed
hands many times. This means that at some point
there may have been a problem that could threaten
your rights to ownership.
For example, let’s say there were unpaid real estate
taxes or liens. Title insurance covers this and will
protect against any claims and legal fees that arise out
of such issues.
Occasionally, there are title problems that occur that
could not be found in public records. One way to
protect yourself is to obtain an Owner’s Policy of Title
Insurance. It will cover any unforeseen problems.
An Owner’s Policy completely protects the buyer
in the event of a title problem. Possible hidden title
problems can include errors or omissions in deeds,
mistakes in examining records, forgery, undisclosed
heirs and more.
The title company works with all the various parties
of a Real Estate transaction by coordinating the
process with the REALTOR
®
,
lender, buyer, seller
etc. Their role is to insure a smooth and successful
transaction for all the parties involved.
Additionally, they are responsible for verifying and
examining title to see if there are any defects or issues
that need to be cured before closing the transaction.
The search process is put in place to protect all parties
and it insures clear and valid title.
Explaining the settlement statement or HUD to the
prospective buyer and seller is also important. The
HUD is an itemized document that details all the
charges involved in the transaction. A good closing
agent will walk you through the process and should
explain what you are signing.
Finally, the title company is also responsible for
verifying that all the required documents are present
and they work as an escrow agent to disperse funds.
Office: 972.874.9198
Fax: 972.874.9672
www.FidelityDFW.com
3424
Long Prarie Road, Suite 100
Flower Mound, Texas 75022
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