Title Searches & Insurance:

  • The title search protects you and your mortgage lender against any title claims to the property. Title claims could be anyone claiming an ownership interest in the property or a lien against the property.
  • Your attorney will arrange for a title insurance agency to prepare a title report for the home. The company will search the County and State records and will report upon the owners of the home, prior owners, tax payment status and any liens against the property.    The report is also a commitment from the title agency to insure the title to the home as long as certain requirements are met.   
  • The cost of the title searches and the premiums for the title insurance policies are paid by the buyer at closing. These costs are regulated and do not vary from one agency to another.


Property Survey:

  • The surveyor is brought in by title agency to survey the property. The survey is a layout of the property lines and shows all of the improvements (home, garage, driveway, fences, patio, etc.)
  •  The survey provides the legal description of what you are buying and also shows if there are any encroachments, i.e.: improvements that extend over a property line. It also shows any easements on the property as well as any building setback lines
  •  As with the title insurance, the cost of the survey is paid by the buyer at closing. The cost is usually $350 for a condominium, $685 for a normal size detached home, or more for extra large properties.

Next Steps...

Preparing for the closing.