Buying a home should be fun, not something that adds stress. That’s why choosing a title insurance company like ATG who has reliable agents is important. From last minute prior ownership claims, to judgments, liens and fraud, when you hire us, you hire a title insurance company that cares. And we can assist you in all 50 states and Washington, D.C. Whether you’re a home buyer shopping for a great price, or an agent looking for a title insurance company that will treat your client with respect, we’re ready to be your partner!
Not having a dependable agency can result in unexpected fees, delays and stress that you don’t need! Our entire process in person and online is about dependability, communication, and decreasing your stress. From thorough title searches to sharing all costs up front, you’ll always be in the know and never have to worry about “surprises” at closing.
When you choose ATG Title for your title insurance policy, you’ll have a dedicated an agent to explain the process and documents without legal jargon. Best of all, we have a paperless system to speed up the process while being eco-friendly. If you want an agency that treats you and your clients like a person, not a sale, and who has agents that do thorough research and communicate quickly, we’re ready to support you. Call us today at 703.934.2100 or use the form below and we’ll get you from contract-to-closing hassle, and stress-free.
Just like any type of protective policy, there’s a lot of confusing legal terms that get thrown around and questions that don’t seem to get answered in non-lawyer terms. Below you’ll find the answers to the most common questions we get asked without all of the confusing language.
It is the protective umbrella that shields you and your property from prior owner issues that could come up after you purchase. Information could have been missed, overlooked, mis-indexed, improperly recorded, and so on, and title insurance covers you for any financial loss that could accrue.
By having a policy, you can help prevent or avoid typical defects such as a mistake in a prior deed, a hidden lien, outstanding ownership claim or even outright fraud that can result in losses for you as the owner and/or your lender.
It protects you against loss due to an unknown title or past claim issues that arise after you purchase or refinance a property. Having this can help provide indemnifications against those losses when owners and lenders suffer losses related to a covered risk.
If an issue arises after closing, a title claim can be submitted with the Underwriting Company listed on your Owner’s Title Policy. The Underwriter will get with the Title Company and review all the documentation to come to a unified conclusion. Without an Owner’s Policy, the Underwriter would not be able to assist or intervene.
The cost is roughly around $1000 but it is based off the purchase price. The price can go up or down depending on where you live, the provider you choose and the property value.
The step by step process is below:
There are numerous that can arise. The most common ones are unknown or missing heirs, unreleased prior mortgages, or liens placed on the property when a homeowner failed to pay a contractor or homeowner’s association.
If a claim appears, it must be remedied before you as the homeowner are able to sell title (your ownership of the property) and collect payment.
While most types cover things that happen in the future, these policies cover things that happened in the past and help to provide protection for unknown title defects such as fraud, prior deeds, liens, or ownership claims by other parties.
Yes, but only because your mortgage lender will legally require you to purchase a lender’s policy as a stipulation of the loan to protect the bank’s money in the event a title claim arises down the road.
Not always. A Title Search is a search of the property up to 60 years back, and it will pull as much information from the county records as possible. Sometimes certain documents are not recorded or mis-indexed with the county, so non-filed issues could arise that a Title Search may miss.
Owner’s title insurance is optional, and it covers the homebuyer’s down payment, along with the home loan amount and any legal expenses incurred to defend title.
A lender’s policy does nothing to indemnify the home owner in the event of a title claim, which is why nearly all consumers opt to purchase both lender’s and owner’s title insurance at the closing table.
Paying extra for an enhanced policy is not always necessary and it generally runs about 20 percent more than the Standard, or Limited, title insurance policy but it covers a variety of title claims or defects. The most common scenario when a homebuyer should strongly consider an enhanced title insurance policy over a standard title insurance policy is in the case of new home construction.
Note: Always speak with your title attorney or closing agent to determine what is the best path forward for your unique real estate transaction.