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Frequently Asked Questions

What to Expect at Closing
The most fundamental real estate transaction is a “cash closing.” This type of transaction can be consummated by executing a handful of documents such as a Settlement Statement, Seller’s and Purchaser’s Affidavits, and Transfer Tax Form. However, a transaction involving a mortgage loan can require execution of (50) fifty or more documents. Some of these will be prepared by the closing attorney’s office, but most will be prepared by the Lender. The documents furnished by the Lender will include Federal and State forms as well as a host of others ranging from various affidavits to taxes.
Owners Title Insurance
An owner's insurance policy is an inexpensive policy that protects you against defects in the title to your property. The policy covers the equity that you have in your property, for as long as you own it. It is highly recommended that you obtain a policy. NOTE THAT TITLE INSURANCE IS DIFFERENT THAN OTHER INSURANCES IN THAT YOU ONLY PAY THE PREMIUM ONE TIME, NOT YEARLY.
When preparing your HUD-1 settlement statement, our office will include a charge for an owner's title insurance policy at line 1110. Should you decide that you do not want to purchase the policy, we will remove the charge from the statement at your request.
You should received your Owner’s Title Insurance Policy at the same time as the original recorded Warranty Deed. The time frame varies depending on which county your property is located within. Three months is the average expected timeframe. If you have not received your Owner’s Title Insurance Policy after three months, please contact our Post Closing department at 478-471-1991.
After Closing Questions
Homestead Exemption
The Process-How the Paperwork Flows