Frequently Asked Questions

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A closing or settlement is the process of completing a real estate transaction. During closing deeds, mortgages, leases, or other required instruments are signed or delivered. Furthermore account between parties takes place, monies are disbursed, and recording of all pertinent documents is completed.

Each party needs to provide official photo ID (e.g. drivers license or passport). If you are required to bring funds to the settlement they should be in the form of a cashier's check or made payable to Southern Title & Closing.

Settlements will usually take about 1 hour for a sale and 40 minutes for a refinance but this can vary.

A title is the owner's rights to possess and use real property

Based on a search of the public records, a title search determines a property owner's rights. This search includes court, property, and tax records. Additionally, the sellers right to transfer ownership is verified along with claims, defects, or other rights that may affect the property.

Examples would be: unpaid taxes, unsatisfied mortgages, judgements against sellers and restrictions on land.

Yes - any number of events could occur in a year that might affect a property's title.

Title insurance is a contract to indemnify against losses arising through defects in the title to real estate.

Some of the most common problems covered include:

Unfiled or unpaid liens

Inadequate legal descriptions

Mistakes in legal documents

Fraudulent deeds, mortgages, etc.

Undisclosed or missing heirs

Deeds by persons of unsound mind