Services
Title Insurance
A policy issued to lenders and buyers to protect any losses because of a dispute over the ownership of a piece of property. Sometimes there may be an overlooked mistake in a prior deed, will, mortgage, etc., that may give someone else a valid legal claim against your property. Title Insurance is the protection against loss if a covered defect is found in your title. Think of it as a “safety fence” around your property. Title Insurance is not to be confused with your homeowner’s policy that protects the structure and contents of your home against loss or damage.
Closings/Settlement Services
The final procedure wherein the property is transferred. We obtain the mortgage instruments, conduct the signing of real estate and mortgage papers, disburse all funds, file the signed documents with the appropriate Register of Deeds, and issue the Owner’s and Loan title insurance policies. We assist in the processing of short sale transactions for sellers, and we can oversee and close bank-owned properties for buyers.
1031 Exchanges (The Exchange of Like-Kind Property)
In a 1031 real property exchange, you can exchange any real property for any other real property within the United States if said properties are held for productive use in business or trade or for investment purposes.
New Construction
Interstate Title handles new construction and renovation loans, working hand-in-hand with builders, contractors, and construction Lenders.
Land Contracts
An owner’s policy is issued to the buyers to protect their down payment investment in the purchase of the property. The buyer will receive ownership by a deed from the land contract seller when the land contract is paid in full, unless the deed is held in escrow at closing.
Deed in Escrow
Interstate Title will hold the Warranty Deed in fulfillment of the land contract signed by the seller to the buyer in safe-keeping (escrow) until the land contract is paid in full and the seller authorizes the deed be released to the buyer.
Closing Information
Please be sure to bring the following items with you to your closing. If you have any questions, please contact your closing specialist at Interstate Title, Inc.
Buyer
• Photo identification (passport, driver’s license, or state-issued identification card).
• Proof of Social Security Number
• Proof of purchase of homeowner’s and flood insurance, if required by your Lender.
• Cashier’s check(s) and your personal checkbook for any necessary payments.
• All required funds over $25,000 must be wired to Interstate Title.
• Any additional documentation requested by your Lender.
• Mortgage closing costs are not included on real estate closing statements; contact your Lender for mortgage costs due at closing.
Seller
• Photo identification (passport, driver’s license, or state-issued identification card).
• Proof of Social Security Number.
• Invoices for any unpaid taxes, assessments, outstanding liens.
• Any item you wish to pass on to the buyer such as association payment coupons, warranties, etc.