Signing a purchase contract is exciting. But between contract and closing, there's a lot happening behind the scenes — and your title company is at the center of it all.

Title insurance protects you against problems with the ownership history of your new home. Unlike other insurance that protects against future events, title insurance protects against past events — issues that may have occurred before you purchased the property.

Lender's Policy — Required by your mortgage lender. Protects the lender's interest in the property.

Owner's Policy — Protects your investment. Highly recommended and often required. A one-time premium paid at closing.

Escrow is a neutral third-party arrangement where funds and documents are held until all conditions of the sale are met. Your title company acts as the escrow agent, ensuring:

• The seller receives their proceeds
• The lender's funds are properly applied
• All closing costs are paid
• The deed is properly recorded

Closing day typically takes 1-2 hours. You'll sign a stack of documents including:

• The deed (transferring ownership to you)
• The mortgage note and deed of trust
• The Closing Disclosure
• Various lender documents

Bring a valid photo ID and your certified funds (cashier's check or wire transfer) for your down payment and closing costs.

Q: How much does title insurance cost? A: Costs vary by state and purchase price, but owner's title insurance typically runs 0.5%–1% of the purchase price — a one-time fee.

Q: Can I choose my own title company? A: In most states, yes. You have the right to choose your title company regardless of what your real estate agent or lender recommends.

Q: What if a title issue is found? A: RELTCO's team works to resolve title issues before closing. If an issue arises after closing, your owner's title insurance policy covers the cost of defense and any covered losses.

Have more questions? Our team is happy to walk you through the process. Contact us anytime.