You’re probably aware that purchasing a home may be the biggest financial move you’ll make in your lifetime. We invite you to work with Boundary Title to ensure your purchase is protected and your transaction goes smoothly. No matter if you’re a private buyer, seller, or professional agent in Cullman, Alabama, Boundary Title will help guide you through the closing process.

There’s quite a lot to buying or refinancing a home, but with the right help, the process doesn’t have to be overwhelming. First, you’ll want to find a licensed local Realtor in the Cullman, Alabama area. Trust is key, because not only will they help you navigate the market, but they’ll also provide contacts for the other industry professionals you’ll need to complete your transaction. That includes the title company, home inspectors, surveyors, settlement lawyers, and more.

Your agent has been through this process several times and will have contacts within the industry. Start your search for a title company with your agent’s recommendations. You should also ask friends and family who have undertaken similar transactions. If they had a good experience they should let you know about it. Finally, take a look at online reviews to gauge who provides quality service in Cullman, Alabama.

With so many moving parts, it’s not easy to remember who does what, when, and why. To be clear, title companies are responsible for handling general closing procedures and handling escrow, along with performing the crucial title search step in securing a property transaction. They’ll also arrange for any special contingencies and set up a property survey if the situation requires one. 

After an offer is made and accepted on a home, the title company will order an extensive title search to ensure everything is in order. Without a clean title, the transfer of ownership could be burdened with liens, easements, and more. 

If a survey is required, it’s to compensate for ambiguous records and ensure that you’re actually getting all the property you’re paying for. 

The next step will be issuing title insurance policies for both lender and borrower. Lender’s title insurance will protect a lender’s stake in the property while the buyer is still paying back the loan. Buyer’s title insurance protects the new homeowner from any problems with the title that may arise after the fact. These are unlikely to appear after a professional title search, but your property is valuable enough that nothing should be left to chance.

With real estate transactions being the largest financial commitments many people make in their lifetimes, you need a title company that understands the significance of each and every transaction. When you choose Boundary Title, rest assured our team of talented professionals have years of experience in the industry and will work diligently to ensure the process runs smoothly. The Boundary Title & Escrow guarantee is one of excellent service and dedicated professionals throughout the process.

If you’re preparing to sell your home in the Cullman area, there are certain steps you’ll want to take ahead of time to receive the highest price for your home when it sells. That means finding the right real estate agent, performing a deep clean, and repairing any small imperfections. Details like these tend to have a pretty dramatic effect on the check you receive at closing. 

Because the buyer typically chooses the title company, the seller has few responsibilities in this department. That said, the seller will be responsible for covering their share of expenses. While these expenses will usually be deducted from the profit of the sale of your home, don’t neglect to account for them in your budgeting. 

Depending on the nature of your contract with the buyer, the closing costs you’ll be expected to pay to vary fairly widely. Generally speaking, you should expect items like this to show up: 

• Real estate agent fees
• Tax transfers
• Title insurance costs
• HOA costs
• Termite bond fees 
• Home warranty

This likely won’t account for everything, so be sure to review costs with your closing agent and know what to expect.

Buying a home is a massive investment. It’s important you work with a title company you trust. The title company serves three primary functions in the closing process: 

• Determining title issues with title search
• Dispensing title insurance policies to lender and borrower
• Managing closing of escrow accounts to complete the transaction

Homeowner’s title insurance provides legal and financial protection in the event a dispute or issue emerges later regarding your title. By contrast, lender’s title insurance protects their stake in your property for the duration of your loan repayment. In both cases, these policies are typically required to protect the interests of all parties.

When it comes to refinancing, title insurance is the subject of a common question. Many people want to know whether refinancing requires the homeowner to purchase a new title insurance policy. 

Strictly speaking, the homeowner doesn’t need new title insurance, as it only lapses when the homeowner relinquishes the property. However, they will be responsible for securing a new lender’s insurance policy. Lender’s insurance only persists as long as the lending terms remain the same and the loan is provided by the same institution.

Title search procedures vary pretty widely in how long they take, mostly dependent on the age of the property. This is because older homes are likely to have more and more obscure public records that detail their ownership. More ownership history means a longer chain of ownership and more careful review. In general, you can expect a title search to take between 10 to 14 days.

Usually, the title company receives compensation proportionate to the job and the value of the overall transaction. For sellers, the fees owed to the title company will simply be deducted from the final payout. Ask your title company for a breakdown of fees.

We want to provide exceptional title insurance and settlement experience for all of our customers. Check out what recent clients have to say about their experience with Boundary Title. 

“As a Realtor, I get to interact with many different title companies/closing attorneys. Elise stood out from the very beginning with her timely responses and excellent customer care. We weren’t just another number at Boundary Title, and the difference was palatable! LaToya, the closing coordinator, was a delight to work with, too! Thank you Boundary Title for chasing excellence in this crazy industry! I can’t wait to work again together very soon!”

-Ada Handley
Capstone Realty

Looking for a rewarding career in the title industry? Boundary Title is looking for top talent to expand our team. If you have an eye for details, enjoy helping people, and work well in fast-paced environments, we would love to speak with you! Give us a call today at (256) 291-9720 or contact us online.

This material is provided as a courtesy and for educational purposes only. Please consult your title professional for specific information regarding your situation.