FAQs
We’ve compiled a list of the most frequently asked questions to help you understand our services. Simply click on a question to view the answer.
FAQs for Title Insurance
What is title insurance?
Do I need title insurance?
What does title insurance cover?
Our title insurance policies typically cover a wide range of issues, including:
- Undiscovered liens or encumbrances
- Errors or omissions in deeds
- Title fraud or forgery
- False impersonation of the true property owner
- Unmarketable title
What are the different types of title insurance?
We offer two main types:
- Lender’s Title Insurance: Protects the lender’s financial interest in your property.
- Owner’s Title Insurance: Protects your equity and ownership rights in the property.
How much does title insurance cost?
The cost varies depending on the value of your property and the coverage you choose. We can provide you with a personalized quote.
FAQs for Deed
What is a deed?
What types of deeds do you prepare?
We prepare various types of deeds, including:
- Warranty Deed: Provides the highest level of protection for the buyer, guaranteeing the seller has clear title to the property.
- Quitclaim Deed: Transfers any interest the grantor may have in the property, but without warranties or guarantees of ownership.
- Special Warranty Deed: Similar to a warranty deed, but the seller only guarantees the title against defects that arose during their ownership.
Why is it important to have a professional prepare my deed?
Proper deed preparation is essential to ensure the legal transfer of property ownership. Errors or omissions in a deed can lead to costly disputes and delays in the closing process. Our experienced team ensures your deed is accurate, compliant with Oklahoma law, and properly recorded.
How long does it take to prepare a deed?
The timeframe for deed preparation depends on the complexity of the transaction and the availability of required information. We strive to complete deeds as quickly as possible while maintaining accuracy and attention to detail.
What information do I need to provide to have a deed prepared?
To prepare a deed, we’ll need:
- The full legal names of the grantor (seller) and grantee (buyer).
- A legal description of the property being transferred.
- The purchase price or consideration for the transfer.
- Any specific conditions or restrictions related to the transfer.
FAQs for Escrow
What is escrow?
Escrow is a neutral third party that holds funds and documents related to a real estate transaction until all conditions of the sale are met. This protects both the buyer and seller and ensures a secure and fair closing process.
How does escrow work?
- Opening Escrow: Once the buyer and seller agree to the terms of the sale, an escrow account is opened.
- Depositing Funds and Documents: The buyer deposits the earnest money and the seller deposits the deed and other relevant documents into escrow.
- Title Search and Inspections: During escrow, a title search is conducted and any necessary inspections are performed.
- Resolving Contingencies: Any contingencies in the contract, such as loan approval or inspection repairs, are addressed and resolved.
- Closing Escrow: Once all conditions are met, the escrow agent disburses funds to the seller, records the deed, and distributes documents to the appropriate parties.
Why use an escrow service?
Escrow services provide:
- Security: Your funds and documents are held securely by a neutral third party.
- Impartiality: The escrow agent acts impartially, ensuring both buyer and seller fulfill their obligations.
- Convenience: We handle the complex details of the closing process, reducing stress and ensuring a smooth transaction.
- Protection: Escrow protects you from fraud and ensures that funds are only released when all conditions are met.
What types of transactions use escrow?
Escrow is commonly used for:
- Buying and selling real estate
- Refinancing
- 1031 exchanges
- Other real estate transactions where funds and documents need to be held securely.
How much does escrow cost?
YOU DESERVE A STRESS-FREE REAL ESTATE EXPERIENCE
Didn’t Find What You Were Looking For?
If you didn’t find the answer you needed in our FAQs, don’t hesitate to reach out! Our friendly team will be happy to help with any questions or concerns you have—reach out, and we’ll make sure you get the answers you need.
