Frequently Asked Questions About Title Insurance
Below we have compiled a list of commonly asked questions regarding Title Insurance. If you have a question that isn't on this list, please do not hesitate to contact us!
Q. How much does Title Insurance cost?
The one-time premium is directly related to the value of your home and is paid at the closing when you purchase your home. Typically, it is less expensive than your annual auto insurance. Yet it continues to provide complete coverage for as long as you or your heirs own the property.
Q. When should I look into purchasing Title Insurance?
Call BCHH Title as soon as you and the seller sign the contract to purchase the home. With a brief summary of the details, our team of title experts will begin a search of the public records and issue a title commitment. Because there are a number of steps we must take to make certain that we know all we can about the title, it is wise to get the ball rolling as soon as possible.
Q. What items are needed at closing?
You will want to have these items complete or in hand when you come to the closing (please confirm with one of our team members, as practices vary by state):
- Buyer's copy of purchase agreement/ contract
- Proof of wired funds for closing - wiring instructions will be emailed to all buyers.
- Proof of purchase of insurance for fire, casualty, etc.
- Photo identification (passport, driver's license, or state-issued identification card) for all buyers
- Seller's copy of purchase agreement/ contract
- Invoices for any unpaid taxes, utilities, assessments, and latest utilities meter readings
- Receipts for last payment of interest on mortgages
- Bill of Sale of personal property covered by the purchase agreement/ contract
- Any unrecorded instruments that affect the title
- Proof of satisfaction of any mechanics’ liens, mortgages, or judgments that were paid prior to the closing
- Photo identification (passport, driver's license, or state-issued identification card) for all sellers