A lender’s policy protects the lender’s interest in the property, while an owner’s policy protects you, the homeowner, against potential title issues.

During closing, all documents are signed, funds are distributed, and ownership of the property is officially transferred.

The closing process typically takes 30 to 60 days, but it can vary based on the complexity of the transaction.

Closing costs are fees associated with the transaction, including title insurance, escrow fees, recording fees, and other related expenses.

It depends on local customs and negotiations, but typically the buyer pays for the lender’s policy, and either party can pay for the owner’s policy.

A title search is a review of public records to ensure the property has no outstanding liens, legal disputes, or ownership issues.

Yes, if there are unresolved title issues, such as liens or ownership disputes, they must be addressed before closing can occur.

Funds are typically held in an escrow account until all conditions of the sale are met, and then they are distributed to the appropriate parties.

Remote closings are often possible through mobile notary services or online notarization, depending on state regulations.

If title issues arise after closing, your title insurance policy will protect you from financial losses related to those issues.

The title company conducts the title search, facilitates the closing process, manages funds, and issues title insurance to protect all parties.

Escrow is a neutral third-party service that holds funds or documents until all conditions of the sale are met, ensuring a fair and secure transaction.

A title commitment is a document that outlines the conditions that must be met before issuing a title insurance policy.