Common Questions About Title Insurance and Closings
Find straightforward answers to the questions buyers, sellers, and refinancing homeowners ask most often about title protection and what takes place at a Mid-State Title & Escrow closing.
Title Insurance Fundamentals
Why do I need title insurance?
A title company provides this policy to protect you as a buyer or owner from losses caused by a defect in your ownership or interest in the property. The insurer also agrees to defend you in court if your title is challenged, covering legal and court costs or paying a loss up to the policy's face amount, as set out in your policy terms.
What hidden title issues could cause a loss?
Numerous defects can lead to a challenge against or loss of your title, and some stay hidden even after the most careful public records search. Examples include forged deeds, wills, or other legal documents; a spouse who did not join in a conveyance; undisclosed heirs; deeds signed by minors; liens for unpaid taxes; deeds from defunct corporations; and unprobated wills.
What Happens at Your Closing
As a seller, what should I expect at closing?
Sellers provide payoff details and, when applicable, homeowner's association information. We order the payoffs and confirm the association has a record of the new owners. When all parties are ready, you'll be contacted to schedule your signing appointment. Please bring a valid photo ID plus keys, garage door openers, and similar items. Once everything is signed and all funds are received, disbursement occurs, and your proceeds can be picked up, mailed, wired, or deposited to your bank.
As a buyer, what should I expect at closing?
Buyers supply the names exactly as they want title vested, along with homeowner's insurance information. When all parties are ready, you'll be contacted to schedule your closing appointment. At closing, bring a valid photo ID and a Cashiers Check, or wire the funds to our office. Once documents are signed and monies received, funds are disbursed and recording takes place. After recording, we send you your final title policy and original Deed.
How is a refinance closing different?
A refinance calls for payoff information and homeowner's insurance information. Once your lender is ready to close, you'll be contacted to set up your appointment, and you'll need to bring a valid form of ID. A refinance includes a three-business-day rescission period in which you may cancel the transaction. When that period ends and lender funds arrive, disbursement and recording take place. If you receive cash back, your proceeds can be picked up, mailed, wired, or deposited to your bank.
Related Topics
Have More Questions?
Get in touch with our team for personalized guidance on your transaction.
Contact UsWhether you are purchasing your first home, selling a property, or refinancing an existing loan, understanding title protection and the closing steps ahead helps you prepare with confidence. Review the questions above, then check our closing checklist for the items to deliver beforehand and bring on the day of closing.