Showing posts from January, 2015

Title Commitment vs Title Report

Do you know the difference between a title commitment and a title report? While these documents may sound similar at first, they actually serve very different purposes and should not be confused. As your trusted title company at the Lake of the Ozarks , Arrowhead Title is here to help clear up any misunderstandings you may have about title commitments and title reports. Title Commitments Title commitments are issued when someone is in the process of buying a home or piece of property. After the title search has been conducted (that is, after your title company has thoroughly researched the public documents for any pertinent information regarding the property), the next step is to issue the title commitment.  The title commitment is exactly what it sounds like: a commitment  to provide title insurance to the lender and the buyer under the terms described. The title commitment outlines the conditions and exceptions that will impact the title insurance policy. Conditions to

How to Protect Your Investment with Title Insurance

Homes are often the largest purchases most people make in their lifetimes. People spend hundreds of thousands (if not millions) of dollars on their homes at the Lake of the Ozarks . With so much money at stake, it's easy to see why protecting your investment is so important. As your trusted title professionals at the Lake , Arrowhead Title, Inc. is here to help you learn how to do just that. The Title Search The first step is to choose a title company at the Lake of the Ozarks . When clients come to us to help them with their residential real estate transactions, we spend hours upon hours pouring through the public records to find all pertinent information relating to the property. This type of information includes (but is not limited to): Outstanding deeds of trust Liens against the property Owner history Tax information Restrictions on the use of the property The goal of the title search is to unearth all the information a prospective buyer needs to know abo

Title Insurance: Myths vs Facts

When you hear the term " title insurance ," what comes to mind? Do you think you know what it means? Title insurance is arguably one of the least understood aspects of the home closing process. We have found that most people either respond to the questions above with blank stares, vague responses, or incorrect information. Today, the team at Arrowhead Title, Inc. is here to clear up some of the misunderstandings about title insurance at the Lake of the Ozarks by debunking some of the myths surrounding the title insurance industry. MYTH:   Title insurance automatically comes with the house. FACT:   Most lenders will require a title search and a title insurance policy to cover their loan, but these services are not included in the purchase of the home. Home buyers will be responsible for purchasing these extra services at closing. MYTH:   There's only one type of title insurance. FACT:   There are actually two types of title insurance: lender's title poli

Risks of Not Having Title Insurance

If you're approaching the closing date for your new home, it's quite possible that you're feeling a bit squeezed by all of the costs you've been expected to cover so far - especially when you consider that you don't even own the house yet! Appraisals, inspections, earnest money... these things aren't cheap, and somehow you're expected to pay for all of them.  As the closing date draws nearer, you're probably looking for opportunities to cut costs in any way you can. While we certainly empathize with your predicament, your friends at Arrowhead Title, Inc. are here to make sure you know that title insurance is not  the cost to cut. Not Having Title Insurance Can Be Devastating When you sign on the dotted line and become the proud owner of your new home, you also become the (maybe not quite as proud) owner of any problems associated with the house. The seller is off the hook.  What happens, then, if you find out afterwards that the seller was a min