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| Refinancing |
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| Purchasing
a Home |
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Repeat Customers
are entitled to either a Reissue rate or a title
credit, whichever will benefit you more.
Refer a friend and they will get a Discount at closing. |
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- What do
I need for settlement?
- A copy of your driver’s
license and a second form of ID such as passport, military
ID or social security card and any funds that may be required
at the table.
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- What
forms of payment do we accept if funds are required at
the table?
- The only forms of payment accepted
are money order, wired funds from your bank or cashiers
check. We do not accept personal checks, cash, credit
cards or COD (cash on delivery).
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- Why
is title insurance required on a refinance?
- All banks and lenders require
a lender’s title policy to protect the money that
they are lending to you in your new loan. When you bought
your home most likely you purchased an owner’s title
policy which is good for the life of the home and never
needs to be repurchased until it is sold.
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- How quickly will
I receive my funds from my refinance?
- In all primary residence refinance
transactions there is always a 3 business day Right of
Rescission from the time you settle to the time that a
title company receives your money. We expect to over-night
or wire funds on the day they are received. Typically
this is one to two days after the disbursement date on
your settlement statement.
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- Where
can we close my loan?
- We are willing to close at
just about any location such as your home, our office,
the local library, a restaurant or even your place of
work. If we are traveling to you please understand that
we may need a 30 to 90 minute window to account for difficulties
in traffic and weather conditions. We appreciate your
understanding.
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- Who needs to be
present at settlement?
- All parties that are on the
title to the property, not just the mortgage are required
to be present to sign.
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- If I cannot
be present for settlement what can we do?
- With approval from you lender,
we will prepare a specific Power of Attorney for you.
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- What does Advantage
Title need to start my refinance?
- All we need is for your loan
officer to contact us directly and we will take care of
the rest.
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- Why do I need owner’s
title insurance?
- An owner’s title policy
protects you and your home against unforeseen and costly
problems. Some examples include, but are not limited to
unrecorded owners in title, unrecorded or unreleased liens
and judgments and mistakes that can be caused by the county
or state recording offices. Without an owner’s policy
you could end up spending hundreds of thousands of dollars
satisfying these problems or even loose your house.
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- What is the maximum
coverage provided by my owner’s title policy?
- Your owner’s title policy
will cover up to your full purchase price, not including
settlement costs.
- Example: You are buying a home for $300,000 and
6 months later there is a lien holder demanding full
payment of an unrecorded lien in the amount of $68,000.
Your title insurance will satisfy this amount and
you will have $232,000 left in coverage in your owner’s
title policy.
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- This coverage does not increase
with the value of your home; however, your owner’s
policy can be updated for your new appraised value at
any time.
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- What does Advantage
Title need to get my order started?
- All we need is a copy of your
ratified contract of sale; either from you or your Real
Estate agent. If you are borrowing money to purchase a
home we will need the contact information for your loan
officer or bank so that we can coordinate your settlement.
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- Does Advantage
Title set up personal mortgages between the buyer and
seller?
- No problem, we will have our
attorney consult with you and the seller(s) to set up
a personal mortgage between all parties (costs may vary).
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