An online guide flipbook version of "Title & Escrow" - A Guide For Buyers & Sellers.

Title Insurance provides the basic and essential protection for home ownership. Since a home purchase is usually the largest single financial investment most people make in their lifetime, the importance of fully protecting this investment cannot be overemphasized. Title insurance at its core protects you, the insured, against lawsuits challenging your interest as lawful holder of title. By taking steps to minimize risk at the time of issuance, you will be protected against loss of title.

The key items to look for in the Preliminary Report are Liens, Restrictions, and Up-to-date Preliminary Report.

Here are some significant things that are necessary to look at in Title Review.

There are two types of title insurance buyers encounter at the time of a property purchase. One is the Homeowner’s Policy and the other is known as the Lender’s Title Policy. Understanding the protection offered by each is critical to the decisions that are made upon closing a transaction.

Escrow is a financial arrangement between two parties that then enlist a neutral third-party to hold money, paperwork, and assets before a transaction is finalized. Escrow is required to follow mutual written instructions from all parties. Escrow will coordinate with the buyer, seller, and lenders, as the middleman, to make sure that title and funds are transferred between the parties in accordance with the instructions they sign.

Title to real property in California may be held by individuals, either in Sole Ownership or in Co-ownership. Co-ownership of real property occurs when the title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference some of the most common examples of each as provided by the California Land Title Association.

Based on the terms of the Purchase and Sale Agreement and instructions from the lender (when financing is applicable), your escrow officer balances the debits and credits for both the buyer and seller for the transaction. Both parties will receive a settlement statement to review and acknowledge all of the debits & credits for their respective sides of the transaction. When financing from an institutional lender is involved, both buyer and seller will receive not only a settlement statement but also a closing disclosure, as required by the Consumer Financial Protection Bureau (CFPB).

StartInHere® is a secure, digital workspace for home buyers and sellers to engage with Chicago Title as they begin their real estate transaction in a more secure and intuitive digital consumer experience.

Closing costs may be confusing. Let’s break it down by buyer and seller cost.

Realtors, closing attorneys, buyers, and sellers may all be targets of wire fraud. This has caused the loss of hundreds of thousands of dollars in some transactions, simply because respective parties relied on the wire instructions received via e-mail.

Here are some tips if you are an out-of-state or out-of-the-country buyers or sellers.

Here are the Change of Address Checklist and Moving Checklist.

We are also providing some important resources that will help you throughout the process.

Here is a short video presentation that will give you a better understanding about title insurance.

Here is a short video presentation that will give you a better understanding about Escrow.

Here is a short video presentation that will give you a better understanding on what to look for in a Title Company.

Here is a short video presentation that will give you a better understanding on what to expect at Closing.

A Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.