Frequently Asked Questions

Liens are like mini-mortgages placed on the property to force the property owner to pay a debt. Any liens on the property must be paid before the land can be sold

Escrow is a financial arrangement where a third party holds and regulates payment of the funds between two parties pending the fulfillment of the transaction, making the transactions more secure.

The title refers to the document of legal ownership for the property and the use of the property.

The chain of title refers to the record or history of property title ownership from the present owner back to the original owner.

A title search is a review of all recorded documents affecting a specific property to determine the present condition of the title.

 Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens or defects in the property’s title. 

A title defect refers to a title that has a publicly-recorded lien, mortgage or judgment on the property the title represents and therefore, the title is not a “clean title.”

A closing is the final step of the real estate transaction process where all legal documents are signed, fees paid and the ownership property is officially transferred from the seller to the buyer.

At the final stage in a real estate transaction, or the closing, a closing agent assures that all documentation, including sale related documents and loan/mortgage documents for the entire transaction, are completed and signed properly, including the title search and title insurance.