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What is a “title”?
A title is ownership of, or right to, property.
That’s right, the title is a legal concept that gives you the ability to use your property. The title for a house is often confused with the deed, but the deed is the legal document (a tool) that allows the title (ownership) to be transferred from owner to owner.
What does a title company do?
A title company works as an intermediary between buyer, seller, lender, insurance companies, etc. They deal with the necessary paperwork to get the title insured and transferred to the new owner with no strings attached.
What is a title search?
A title search is aimed at going through a property’s records to make sure that there are no complications with the property’s history such as deed restrictions, liens, or unpaid taxes. These types of issues need to be sorted out before closing to ensure that you don’t end up owing money or dealing with any potential property conflicts later on.
Why is a title search needed?
There are many reasons to conduct a title search, and it depends on your goal. If you aim to invest in a property, a title search is a great tool for helping you decide whether a particular property is right for you. But if you’re buying a home, a title search ensures that there are no surprise expenses or complications down the road.
FAQ's
Q: What is title insurance?
A: Title insurance from Advantage Title shields you from the consequences of title defects and protects you so you aren’t liable for past liens and back taxes owed by previous owners of the property.
There are two main types of title insurance: one to protect the buyer, and one to protect the bank, mortgage company, or other lending institution.
Q: Why do I need title insurance?
A: Buying title insurance protects you from legal claims resulting from title defects. With a one-time premium, you as a buyer are shielded from any issues regarding title as long as you own the property. As a lender, you are completely protected until the property is paid off and no longer your concern.
Q: How much does title insurance cost?
A: The price of title insurance is a one-time cost based on the sale price and/or loan amount of the property. It lasts as long as you have an interest in the property. For buyers, coverage lasts as long as you own the property and can be passed down to heirs as an inheritance as well as being given over to a new owner should you sell the property.
We Provide The Following Services
- Title Insurance
- Settlement Services
- Title services/searches
- 1031 Exchange Intermediary Services
Core Coverage Area
Advantage Title proudly serves the entire state of Indiana!
Starting the Process
Get your order to us via phone, fax, email, or electronic submission through contact forms on our website.
- Via phone - (765) 420-7730
- Via fax - (765) 420-7341
- Via email - reception@www.advantage-title.com
- Via electronic submission - complete our open order form below, then click submit
We will…
- Request a copy of the executed purchase agreement.
- Conduct a title search.
- Examine and work to clear any issues found within the title search. This process may involve the following:
- Request a signed borrower's authorization from the seller to allow us to obtain mortgage payoff information from the seller's lender
- Contact the HOA for fees and documents
- Order a survey if necessary
- Collect property tax information
The Closing Process
- Request loan documents
- Prepare settlement statement
- Request lender approval
- Conduct the settlement
- Payoff mortgages, liens, and judgments as applicable
- Disburse funds to relevant parties
- Record executed documents within the county land records
- Issue title policies
What to Bring to Your Closing
Seller
- Valid Government issued photo ID (not expired)
- Keys to property
- Garage door openers (if applicable)
- Ensure funds following Indiana's Good Funds Law. For example, personal checks are not to exceed five hundred dollars per closing
Buyer
- Valid Government issued photo ID (not expired)
- Any documents your lender requests you to bring to settlement
- Ensure funds following Indiana's Good Funds Law