Purchasing a home is often a person’s largest investment. The professionals at Boundary Title in Huntsville, Alabama are dedicated to making sure your purchase is protected and providing the insurance needed to secure the title to your property. Whether you are a buyer, seller, or real estate professional, the team at Boundary Title is dedicated to providing excellent service during the entire process.
The process of buying or refinancing a home can seem like a tall task. With the right players on your team, the process doesn’t have to be as daunting or cumbersome. We recommend using a Realtor in the Huntsville area who understands everything involved and has the resources to make the process run smoothly. As the buyer, you will choose the title company since you are the one paying for it.
Your agent has been through this process several times and has several contacts within the industry. They can recommend a reputable company. Speak with your friends and family who have recently purchased a home. Checking the online reviews is another way to properly vet a potential title company.
With all of the different players in the process of buying and selling real estate, it can be difficult to keep track of who does what and in which order. Title companies handle escrow accounts and ensure titles to properties are legitimate. Title companies perform title searches, take property surveys and provide title insurance.
Once an offer is accepted on a home and the buyer and seller have agreed to all terms, a title is ordered and a title search is performed. This ensures a seamless transfer of ownership. A title search can show unpaid liens, unpaid HOA dues, and issues with easements.
A survey may be required, but either way, it’s a good idea to have one drawn to ensure you’re getting all property you will own. It also ensures no neighbors or anyone else can encroach on your property.
After a search and a survey, a title insurance policy will be issued. Title insurance not only protects the property owner, but the lender as well. While many types of insurance (homeowners, automobile) protect you from something that may happen in the future, title insurance protects you from what may have happened in the past. If an issue arises with rightful ownership, good title insurance will cover the cost of defending your rights in court.
Real estate transactions are often the largest purchases and investments people make. 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. From title searches to closing escrow accounts, our team is dedicated to providing excellent service throughout the process.
So you’re ready to sell your home in the Huntsville area? There are certain steps you’ll want to take ahead of time to receive the highest price for your home when it sells — finding the right real estate agent, performing a deep clean, repairing any small imperfections… it may seem daunting but these “little things” can really make a big difference on the check you receive at closing.
When it comes to working with a title company and selling your home, it’s usually the buyer who fronts the leg work- contacting the title company and ordering the search. The buyer and their agent may approach you, the seller, once complete to discuss any discrepancies or findings from the search.
Your closing costs will be a fairly large expense unless the contract outlines that the buyer or another party will be paying them. Within your closing costs, you can expect to pay:
- Realtor commissions and fees
- Transfer of taxes
- Title insurance premiums (depending on where you live)
- HOA fees
- Termite bond fees
- Home warranty fees
…and more. Your real estate agent or closing attorney can go over an itemized list to ensure you understand exactly what and how much you are paying.
As the buyer, you are making a huge investment in purchasing a home. Having a knowledgeable title company in your corner can put your mind at ease during the transaction. Title companies serve three main functions during the process:
- Find and eliminate issues that may affect your right to property ownership
- Provide insurance policies to the lender and buyer
- Handle the closing and manage the escrow accounts
You have homeowner’s insurance to protect your property against things that happen in the future, and title insurance protects you from things that may have happened in the past. For example, if a property line dispute arises based on an outdated, incorrect map, the title company will pay for your legal fees to defend your rights in court. They could also reimburse you for the equity in the case the claim is found to be valid.
The rates have dropped and you’re looking to refinance. Great! You’ll be able to save money on your monthly mortgage payments. Even though you aren’t necessarily buying a new property, title insurance is still necessary. That’s because half of the responsibility of title insurance is to protect the lender. The lender is looking to protect itself against risks, and it can only properly do so with a new title policy.
One question many potential buyers and sellers ask is “How long will all of this take?!” While several factors can affect the outcome and length of the process, generally a title search – the process of looking up the chain of title and ensuring no liens, claims, or other issues exist, can take anywhere from 10 to 14 days. A general rule of thumb to follow is the older the home, the longer the search can take. There are more hands the home has passed through and more work is involved to ensure the title is clean.
Ultimately — it depends. The size of the loan is one factor and the state the property is in is another. The expense to the title company is covered in the closing costs and is usually a one-time fee. The title company can provide a breakdown of fees at closing.
It’s our goal to bring dedication and expertise to every transaction. It’s our primary goal to provide exceptional title insurance and settlement experience for all of our customers. But you don’t have to take our word for it. 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!”
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.
Boundary Title Office
200 Clinton Avenue West, Suite 315,
Huntsville, AL 35801
Boundary Title is located in the tallest building in Downtown Huntsville known as the Regions Center. The building has an attached parking garage where guests are welcome to park in any of the non-reserved, open spaces. Guests will receive tokens to get out of the parking garage after their visit.
When you walk into the building through the glass doors, you will find the elevators straight ahead. Take any of the elevators to the 3rd floor and our office will be visible as soon as you step off the elevator. We look forward to seeing you!