BUYERS & SELLERS SERVICES
Community Title & Escrow offers the following services to you:
- Title Commitment
- Owner’s Title Insurance Policy
- Insured Escrow Closing
- 1031 Exchange (Tax Deferred Exchange)
- Legal Services
Whether you are buying, selling or borrowing money on your real estate, you will need to have title insurance. The following is an explanation of each of the services we provide.
TITLE
COMMITMENT
A preliminary examination of the public records is done showing all current information with regard to the property: current owner, title vesting, legal description, tax information, open mortgages, liens, judgments, easements, restrictions, etc. The Title Commitment will show exceptions to title insurance coverage and will have a list of requirements that must be met before a title insurance policy can be issued.
Owner’s Title
Insurance Policy
Once all requirements of the title commitment have been met, an Owner’s Title Insurance Policy will be issued that insures the buyer’s investment or equity in the property up to the face amount of the policy.
Insured
Escrow Closing
We will meet with the buyers (or borrowers) and sellers, explain all documents including any loan documents, notarize their signatures, record the documents, disburse funds, payoff any liens on the property, and satisfy all requirements of the title commitment and those of the lender.
1031
Exchanges
A tax deferred exchange is simply a method by which a property owner trades one property for another without having to pay any federal income taxes on the transaction. In an ordinary sale transaction, the property owner is taxed on any gain realized by the sale of the property. But in an exchange, the tax on the transaction is deferred until some time in the future, usually when the newly acquired property is sold.
Legal
Services
If requested, we will provide information to Mottaz Law Office to prepare any needed documents such as: Deeds, Sales Contracts, Contract-for-Deeds, Notes & Mortgages, Leases, Easements, or Affidavits.
We’re a part of your community
LENDERS SERVICES
Community Title & Escrow offers the following services to you as the lender:
- Title Search
- Letter Report
- Title Commitment
- Lender’s Title Insurance Policy
- Insured Escrow Closing
- Witness-Only Closing
The following is an explanation of each of the services we provide.
TITLE
SEARCH ONLY
We examine the public records and provide you with a list of documents recorded on the subject property and include copies of each.
Letter
Report
We search the public records (two deeds back from previous owner) and provide you with a written report which shows the current owner, title vesting, legal description, tax information, and list of all open mortgages, liens, judgments, easements, restrictions, etc. on the subject property. No insurance is provided with the Letter Report.
Title
Commitment
A preliminary examination of the public records is done showing all current information with regard to the property: current owner, title vesting, legal description, tax information, open mortgages, liens, judgments, easements, restrictions, etc. The Title Commitment will show exceptions to title insurance coverage and will have a list of requirements that must be met before a title insurance policy can be issued.
Lender’s Title
Insurance Policy
Once all requirements of the title commitment have been met, a title insurance policy will be issued that insures the lender’s interest in the property as security for the outstanding balance under the borrower’s mortgage.
Insured
Escrow Closing
We will meet with the borrowers, explain all documents to them including the loan documents, notarize their signatures, record the documents, disburse funds, payoff any liens on the property, and satisfy all requirements of the title commitment and those of the lender.
Witness
Only Closing
We will meet with the borrowers, explain the documents to them, notarize their signatures and return the documents to the lender for disbursement and recording.