Title Company in Decatur, AL
Purchasing a home is often a person’s most significant investment. The professionals at Boundary Title in Decatur, Alabama are dedicated to ensuring 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.
Choosing A Title Company in Decatur, AL
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.
Your agent has been through this process several times and should know of several good options for a title company in Decatur, AL. Speak with your friends and family who have recently purchased a home. Checking online reviews can help you decide on the best title company for you.
The Boundary Title Process
With all the different players in buying and selling real estate, it can be challenging 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.
A title search ensures a seamless transfer of ownership and can show unpaid liens, unpaid HOA dues, and issues with easements.
A survey may be required, but it’s a good idea to have one drawn to ensure you’re getting all property you will own. It also documents that neighbors or others cannot encroach on your property.
After a search and a survey, a title insurance policy will be issued. Title insurance protects not only 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 occurred in the past. If an issue arises with rightful ownership, good title insurance will cover the cost of defending your rights in court.
Boundary Title & Escrow Services
Real estate transactions are often the largest purchases and investments people make. When you choose Boundary Title, rest assured that our team of talented professionals has years of industry experience and will work diligently to ensure the process runs smoothly. From title searches to closing escrow accounts, our team provides excellent services throughout the process. Learn more about our title & escrow services today.
Title Insurance And Selling Your Home
There are specific 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, and 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, the buyer usually 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.
Titles And Buying A Home
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.
Title Insurance Services On A Refinance
Oftentimes, when refinancing you will 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. Half of the responsibility of title insurance is to protect the lender who issued the refinance. The lender is looking to protect itself against risks and can only properly do so with a new title policy.
How Long Does A Title Search Take
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- 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.
How Are Title Companies Paid
How title companies are paid can vary.
The size of the loan is one factor and the state of the property is another. The expense to the title company is covered in the closing costs and is usually a one-time fee. Boundary Title & Escrow can provide a breakdown of fees at closing.
Join The Boundary Title & Escrow Team
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 detail, 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