Property Title Insurance
Real estate is a valuable asset and one of the largest investments you’ll ever make. As you are in the process of purchasing a home or commercial property, one of the most important aspects of the closing process is comprehensive and thorough title search and issuance of title insurance policies. We work closely with banks, lenders, brokers, builders, mortgage firms, attorneys, and underwriters.
We deliver personalized services with professionalism and integrity. From residential homes to commercial buildings and new construction real estate settlements in Philadelphia, PA, Bucks County, PA and Montgomery County, PA, our agents take pride in providing exceptional services for all transactions.
To ensure you are protected from possible title defects, First USA Abstract, Inc. and Glendale Abstract, L.P. work behind the scenes to examine and assess records of the property in Philadelphia , Bucks or Montgomery County, PA, to find any risks associated with the title. Potential risks will be protected within your policy, and the smartest decision you can make as a homeowner. All parties involved in the transaction will benefit from issuance of title insurance.
Smooth transactions
When you are buying your first home, selling your first home or looking for new opportunities to purchase real estate, it can be a pivotal and exciting yet careful time in your life. While it may seem straightforward to transfer the title of the property into new ownership, there are many underlying aspects that can jeopardize your ownership of the property.
The first steps in a transaction are critical to your ownership rights when it comes to local title insurance in Bucks County, Philadelphia County or Montgomery County, PA. Title insurance policies are designed and written to insure against any property issues or title risks. Whether requiring an owner’s policy or a loan policy, our comprehensive coverages are available to protect you as the consumer.
We will examine public records to find title risks associated with your property. We work with a commitment to our customers to provide the best service, examining general taxes, utility assessments, judgments, and zoning of the property.
Our agents will adhere to the highest standards of professional responsibility. Becoming one of the trusted companies for real estate title insurance, our services protect you from financial loss and other possible hardships due to inconsistencies with the title of a property.
Real Estate Settlements
We understand how important it is for you to settle on your new piece of real estate. To expedite the closing process, First USA Abstract Inc. and Glendale Abstract, L.P. have experienced and trained escrow settlement agents to handle the closing procedures and provide a comprehensive property title search in Philadelphia, Montgomery County and Bucks County. With the competitive nature of the real estate market, you want to complete your settlement as quickly and stress-free as possible.
To get the transactions finalized, we help handle all the title work, clearance of title, coordination of the closing and full escrow services.
Our staff is knowledgeable on all issues concerning closing procedures, helping buyers, sellers, and agents prepare for settlement from the signing of contract, to the finalization of settlement.
Frequently Asked questions
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Title to a property is the proof that an owner is in lawful possession of that property.
Title insurance protects real estate owners and lenders against any future loss or claims they might experience due to past issues such as liens, encumbrances or defects in the title to the property.
Obtaining title insurance is the smartest and most imperative decision you will make as a property owner. Purchasers and lenders need title insurance in order to be insured against various possible, unforeseeable title defects. The buyer, seller, and lender all benefit from full protection of the issuance of title insurance.
Title insurance protects against claims from defects such as another person claiming ownership interest, incorrect recorded documents, fraud, forgery, liens, encroachments, easements and other items that are detailed in the insurance policy.
By mandated Pennsylvania state law, the owner’s and lender’s title insurance premium is based on a set title insurance rate manual, permitted by the Pennsylvania Insurance Department. The amount of your title insurance premium is contingent on the purchase price (sale rate) or loan amount (non-sale rate).
Unlike other forms of insurance, the title insurance premium you pay at settlement is a one-time premium paid as long as you or your heirs own the property. There are no annual or recurring payments to keep your Owner’s Title Insurance Policy in effect.
Escrow is the process in which the funds of a transaction, such as a purchase or refinance of a property, are held by a third party, often the title insurance company, pending the completion of the transaction.
It is the responsibility and significance of the title company and/or settlement agent that you receive clear title to the property when you purchase real estate. In order to do so, you will be informed of any existing rights or claims that may, in the future, threaten your title and possession to the property. Title insurance provides you with protection you need.