A Behind-The-Scenes Look At Buying A Home

When you think of buying a house at the Lake of the Ozarks, what comes to mind? If you're like most people, you think of touring various properties for sale while searching for your dream home. While this is certainly an exciting process, it's only the tip of the iceberg. Once you settle on your perfect home and decide to submit an offer, there are still several steps that must be executed before the home can be declared legally yours. Arrowhead Title, Inc. is here to help you get a better understanding of the process.

Earnest Money
When you submit an offer to purchase a home, you must also include a check for earnest money. This check shows that you are serious about buying the property; the more money the buyer provides, the more serious he/she seems. Generally, earnest money amount ranges from about 1-3% of the asking price. 

Loan Application
If you haven't already, now is the time to begin applying for a mortgage loan. A lender will evaluate multiple financial documents (bank statements, pay stubs, credit reports, tax returns, etc) to determine your trustworthiness as a borrower. Because this can be a time-consuming process, most experts recommend that you get pre-approved (or, at the very least, prequalified) before beginning to look for homes in earnest.

Tax Check
If taxes are owed on the property you wish to purchase, they must be satisfied before the title can transfer ownership. The title company will contact the various assessor-collectors to determine what taxes (if any) are currently owed on the property.

Title Search
We have said it before and we will say it again: there are many hidden hazards that can threaten a new owner's right to the title if not proactively addressed. Your Lake of the Ozarks title company will gather the appropriate documentation and conduct a thorough investigation to assess matters of probate, divorce, heirship, bankruptcy, and more.

Document Preparation
If you have ever purchased or sold real estate before, you know that you have to sign your name on a seemingly endless number of various documents. Before you can take that step, however, the lender and the title agency must prepare all of the appropriate forms and documents, ensuring that everything is completed accurately.

Finally, closing day arrives. Technically referred to as the "formal transfer of ownership," this is the process wherein the seller signs the deed, the buyer signs a new mortgage, the old loan is paid off, and the new loan is established. This is also the time when all involved professionals (real estate agents, lender, surveyors, attorneys, title agency at the Lake of the Ozarks, etc) are paid for their time and services. Finally, both the lender's and owner's title policy are also issued.

Arrowhead Title, Inc. Will Be Here To Help You Along The Way!
As you prepare to purchase a home, you will need the help from an experienced title insurance company at the Lake of the Ozarks. The next time you buy a house, we hope you'll remember Arrowhead Title for all your title needs. We perform every action and facilitate every closing with the utmost accuracy and professionalism. To learn more about our company and how we may be able to help you, visit our website or call us directly at 573-302-1950.

The Lake of the Ozarks' Most Trusted Title Company
Where Accuracy Matters!

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750 Bagnell Dam Blvd Suite B
Lake Ozark, MO 65049


  1. This is extremely helpful information for me. You done a very good job, keep sharing useful articles like this. We are a US based Title Search Services company.


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