8315 W. 10th Street, Indianapolis IN 46234. 
317-214-6023
Submit Earnest Money
Seller Cost Net Sheet

Title insurance protects mortgage lenders and buyers against ownership disputes. Title insurance has also changed with technology. The title services industry is experiencing a remarkable transformation propelled by title insurance technology and broader technological advancements in the insurance industry. 

This post will address future technological advancements poised to significantly impact the title insurance industry, particularly within the context of technological advances in real estate.

What Is The Future Of Technological Advances In Real Estate Title Insurance Industry?

1. The Automated Title Searches 

Title searches used to be done manually by looking through the property's public documents. The procedure is both time-consuming and costly. AI-driven automation, the landscape of title insurance technology, holds immense promise. It signals a future where data security and operational agility are paramount. Automation reduces errors and saves time and costs.

2. The Blockchain Technology

A digital ledger using blockchain technology safely and openly records transactions. Secure and transparent property record storage and management can be achieved with blockchain in title insurance technology advances. Real estate fraud and errors can be reduced with blockchain-based title insurance. It can also eliminate title insurance intermediaries, lowering title insurance costs for homeowners and mortgage lenders.

3. The Smart Contracts

Smart contracts automatically execute agreed-upon terms, helping ensure real estate transaction parties follow conditions. Title searches and transfers can also be automated to save time and money on title insurance.

4. The Remote Online Notarization

Online notarization is called remote online notarization (RON). Both homebuyers and mortgage lenders benefit from RON's reduced notarization costs and time. RON is trending in technological advances in real estate and is expected to grow.

notary using a laptop

5. The Artificial Intelligence And Machine Learning

AI and ML automate property value, risk assessment, and fraud detection in real estate. These experts can also forecast property values and find investment opportunities. AI and machine learning methods help title searchers find titles faster by processing vast volumes of data. 

6. The Augmented And Virtual Reality

AR and VR allow homebuyers to examine properties from home with virtual tours, resulting in engaging experiences in real estate. To increase the likelihood of a sale, houses can also be virtually staged using AR and VR.

7. The Cloud-Based Platforms For Title Insurance 

These platforms let you securely store and access property records and other documents, which can significantly save time and money compared to the conventional paper-based title insurance process. Cloud-based technologies also allow homeowners and mortgage lenders to track title insurance activity in real-time, improving openness and reducing errors and delays. Like any technology, cloud-based platforms have risks.

8. The Predictive Analytics And Big Data Usage

Predictive analytics and big data could transform the sector by revealing market patterns, risk variables, and other elements that affect title insurance. Title insurance experts can make better decisions by identifying patterns and trends in significant volumes of data that may take time to be apparent. It helps mortgage lenders and real estate professionals determine where to invest and lend. However, predictive analytics and big data present challenges in the title insurance industry.

Conclusion

Technological advances will shape the title insurance market. These improvements pose data privacy and security risks, but ethical use can yield many benefits. This growth of title insurance technology advances underscores a pivotal shift towards digital solutions that streamline processes and fortify data security measures. Title Guarantee uses the latest technologies and offers excellent service to provide effective and secure title insurance solutions.

Title companies have a huge impact on the real estate business. Their responsibilities include verifying property ownership and clearing the title. Understanding the complex process of performing title searches shows how important it is to conduct thorough investigation and verification to guarantee the accuracy and integrity of property ownership.

To navigate this complex terrain, title searchers rely on various methods and tools. In this post, we'll look at how to verify property ownership and why it matters in title companies.

A Complex View On How To Verify Property Ownership In Title Companies

What Is The Title Search Process?

A title search is first performed when a title company is hired for property ownership verification. One of the primary purposes of a title search is to verify the seller's legitimacy as the property's transferor. Public records must be searched to find the property's present owner and any liens or encumbrances that can influence the title. 

Title searches typically examine deeds, mortgages, and tax records. They also look for outstanding easements, liens, or limitations that might impact the title or use of the property. Moreover, the outcome of a title search can have significant implications for real estate transactions, influencing the validity of property transfers and the resolution of potential disputes.

Checking The Chain Of Title

Making sure that there is a clear chain of title is one of the most crucial steps on how to verify property ownership. A chain of titles is a history of all the owners of a piece of land, beginning when it was first purchased and continuing to the present day. The title company will check the chain of title to guarantee that there are no breakdowns and that each transfer of ownership has been recorded appropriately. Title issues may arise if there are any breaks in the chain of title or if a transfer of ownership needs to be documented appropriately.

Verifying Encumbrances And Liens

Verification for liens and encumbrances should also be considered an essential part of the property ownership verification. 

To better understand how these work, let's find out their differences:

A lien is a legal claim enforced against property to guarantee debt payment. Meanwhile, an encumbrance is a restriction or limitation imposed on the property. Some examples of these that the title company would investigate to see whether or not they impact the title include an easement, mortgage, or unpaid taxes are some examples of encumbrances or liens. 

Before putting the property on the market, the title company will work with the seller to clear any unpaid liens or encumbrances.

Checking With The County Recorder To Verify Property Ownership

The title company will typically verify the ownership of the property with the county recorder's office once they have finished the title search and validated the chain of title; this is the standard procedure. 

The county recorder's office is responsible for documenting all real estate transactions in the county. 

The title company will confirm who owns the property by reviewing the recorded paperwork, including the deed and other relevant legal documents. In addition, they will confirm that the seller is legally permitted to sell the property.

title deed with blue pen

What Is Title Insurance?

There is always the possibility that a problem with the title could be overlooked, even while conducting the most exhaustive search possible. Because of this, title insurance is necessary to safeguard the buyer's investment in the property. 

Title insurance protects the policyholder against monetary damages that may be incurred due to issues with the title, such as an invalid title or liens that have yet to be identified. 

The title insurance coverage will compensate the buyer for any monetary damages if a title issue arises after the sale is finalized.

Conclusion

Property ownership verification is one of the most important stages in the real estate transaction process, and title companies are essential to this process as they conduct extensive title searches and property ownership verification. 

Showing the process and resources utilized helps us understand real estate transactions and the need for due diligence in protecting property rights.

Looking for a trusted title company in Indiana to help sell your home? If yes, our team at IndyLegal is here to serve you.

Call us at 317-214-6023 today so we can assist you!

Property owners need title insurance to protect their investments from unexpected financial and legal complications. Other than this, is there anything else title insurance can offer?

In this post, we'll try to answer that, explore more on the importance of title insurance, and highlight various situations where it becomes essential. 

Why Title Insurance Is Important?

Lenders and homeowners are protected by title insurance. Some of this include encumbrances, liens, public record inaccuracies, legal conflicts, and earlier property claims. It provides peace of mind by guaranteeing that the property's ownership is unambiguous and free of any potential threats or difficulties.

Title insurance safeguards against claims or historical occurrences before the policy was issued rather than other forms. It offers protection against known and unexpected problems resulting from the property's past ownership records.

Here are the two different kinds of policies for title insurance:

The following includes common title issues and risks:

title insurance files

Who Benefits From Title Insurance?

The ability of title insurance to guard against monetary loss brought on by title flaws is one of its main advantages. The following are the main benefits and safeguards of title insurance: 

1. Protection Against Financial Losses

Title insurance covers financial losses due to title defects. A title insurance claim will pay your losses, including legal fees, to defend your ownership rights. This coverage may safeguard you from significant financial and legal fees. 

2. Legal Expense Coverage

Title insurance protects the legal expenses associated with protecting your ownership rights. If someone challenges your ownership or files a title claim, the title insurance company will pay the legal fees. This coverage reduces the financial burden of judicial proceedings.

3. Keeping Property Ownership Clear

Title insurance guarantees clear and marketable property ownership. If a title defect threatens your ownership rights, title insurance will cover the costs of fixing it, allowing you to keep your property without spending more.

4. Protection Against Risk And Challenges

Title insurance protects against boundary disputes, unpaid liens, unreported easements, property use restrictions, and public record errors. These risks may jeopardize property ownership and lead to expensive legal disputes.

5. Property Owners' Peace of Mind

Title insurance provides property owners peace of mind that their investment is guarded. It can also provide confidence in home ownership by preventing title defects from causing stress and financial issues.

Conclusion

Title insurance is a crucial instrument for protecting property rights and maintaining owners' peace of mind, serving as a defense against false claims and a means of settling boundary disputes. 

A previously hidden heir, a lienholder, or a fraudulent deed signing might lead to title insurance claims. It also protects your investment in each scenario.

You can learn more about title insurance here.

If you have more questions on title services and/or insurance, you may call us at 317-214-6023 so we can assist you!

Title insurance might not be the most thrilling aspect of buying a home, but it's undoubtedly one of the most crucial. In Indiana, as in many other states, understanding title insurance is essential for homebuyers to protect their investment and ensure a smooth transfer of property ownership. Whether you're a first-time buyer or a seasoned homeowner, this comprehensive guide will walk you through everything you need to know about title insurance in Indiana.

What is Title Insurance?

Let's start with the basics. Title insurance is a type of indemnity insurance that protects both lenders and homeowners against financial loss due to defects in a property's title. These defects could include errors or omissions in public records, undisclosed heirs claiming ownership, forgery, fraud, or liens against the property.

Why Do You Need Title Insurance?

When you buy a home, you want to be confident that you're the rightful owner and that no one else has a claim to the property. Title insurance provides this peace of mind by conducting a thorough examination of public records to ensure that the title is clear before the transaction is finalized. Without title insurance, you could be at risk of financial loss or even losing your home if someone else challenges your ownership rights.

Types of Title Insurance

In Indiana, there are two main types of title insurance: owner's title insurance and lender's title insurance.

Both types of title insurance are usually required during the homebuying process, and while the lender's policy protects the lender, it's the owner's policy that provides protection for the homeowner.

The Title Search Process

Before issuing a title insurance policy, a title company will conduct a thorough title search to uncover any issues that could affect the property's title. This process involves examining public records, including deeds, mortgages, court records, tax records, and more. The goal is to identify any existing liens, encumbrances, or defects in the title that could jeopardize the homeowner's rights.

Common Title Issues

While most real estate transactions in Indiana proceed without any major issues, there are several common title issues that homebuyers should be aware of, including:

The Role of the Title Insurance Company

In Indiana, title insurance policies are typically issued by title insurance companies or agents. These companies play a crucial role in the homebuying process by:

While title insurance may seem like just another expense in the homebuying process, it's an investment that can save you from significant financial loss down the road. By understanding the importance of title insurance and working with a reputable title insurance company, Indiana homebuyers can ensure a smooth and secure real estate transaction. So, before you close on your next home, be sure to do your due diligence and secure the protection that title insurance provides. Your peace of mind—and your investment—depend on it.

Closing on a property can be both thrilling and daunting. Whether you're a seasoned investor or a first-time homebuyer, navigating the intricacies of the closing process is crucial for a smooth transition of property ownership. In Indiana, like in many other states, this process involves various legal and financial steps that demand attention to detail. To shed light on this often opaque procedure, we've consulted title experts to compile essential tips for navigating the closing process in the Hoosier state.

Understanding the Closing Process:

The closing process in Indiana typically involves several key steps:

1. Contract Review: Once a purchase agreement is signed, it's crucial to review the contract thoroughly. Ensure that all terms and conditions are clearly outlined and that there are no discrepancies or ambiguities.

2. Title Search: Conducting a title search is essential to uncover any existing liens, encumbrances, or ownership disputes associated with the property. This step helps identify potential obstacles that may affect the transfer of title.

3. Title Insurance: Securing title insurance is a fundamental aspect of the closing process. Title insurance protects both the buyer and the lender against any unforeseen defects in the title that may arise after the transaction is complete.

4. Property Inspection: Prior to closing, it's advisable to conduct a comprehensive inspection of the property to identify any structural issues or defects. Addressing these concerns beforehand can prevent complications during the closing process.

5. Finalizing Financing: For buyers relying on financing, ensuring that all mortgage documents are in order is essential. This includes providing necessary financial documentation and finalizing loan details with the lender.

Tips from Title Experts:

To navigate the closing process with confidence, consider the following tips from title experts:

1. Work with a Reputable Title Company: Partnering with a reputable title company can streamline the closing process and provide invaluable expertise. Choose a company with a proven track record of excellence and a commitment to customer satisfaction.

2. Communicate Openly: Effective communication is key throughout the closing process. Stay in regular contact with your real estate agent, lender, and title company to address any concerns or questions promptly.

3. Review Documents Carefully: Take the time to review all closing documents thoroughly before signing. If anything is unclear or requires clarification, don't hesitate to seek guidance from your title agent or attorney.

4. Be Prepared for Delays: While everyone aims for a smooth and timely closing, it's essential to be prepared for potential delays. Factors such as financing issues, title complications, or last-minute negotiations can prolong the process.

5. Stay Flexible: Flexibility is essential when navigating the closing process. Be prepared to accommodate scheduling changes, document revisions, or unexpected developments that may arise.

Closing on a property in Indiana can be a complex yet manageable process with the right knowledge and guidance. By understanding the key steps involved and heeding advice from title experts, buyers and sellers can navigate the intricacies of the closing process with confidence. Remember to prioritize communication, diligence, and flexibility to ensure a successful and stress-free closing experience.

Title issues can be a nightmare for homebuyers, potentially leading to legal battles, financial losses, and even the loss of property. In Indiana, like in many other states, there are specific title issues that homebuyers should be aware of to avoid any unpleasant surprises down the road. Whether you're a first-time homebuyer or a seasoned real estate investor, understanding these common title issues is crucial before finalizing any property purchase in the Hoosier State.

1. Missing Heirs or Undiscovered Wills

One of the most common title issues in Indiana arises from missing heirs or undiscovered wills. If a property owner passes away without a clear will or with heirs who cannot be located, it can create complications during the title transfer process. Even if the property has been sold multiple times since the owner's passing, unresolved heirship issues can lead to legal disputes, clouding the title and affecting your ownership rights.

To avoid such scenarios, it's essential to conduct a thorough title search and possibly even invest in title insurance to protect yourself against any future claims from unknown heirs.

2. Boundary Disputes

Boundary disputes can arise when there is confusion or disagreement regarding the exact boundaries of a property. This can happen due to inaccurate surveys, discrepancies in property descriptions, or disputes with neighboring landowners. In Indiana, boundary disputes can escalate quickly, leading to costly legal proceedings and potential loss of property.

Before purchasing a home in Indiana, make sure to review the property's legal description, conduct a survey if necessary, and resolve any boundary disputes before closing the deal.

3. Mechanic's Liens

Mechanic's liens can pose a significant threat to property buyers in Indiana, especially if the previous owner failed to pay contractors or subcontractors for work done on the property. These liens can remain attached to the property even after a change in ownership, potentially leading to foreclosure if left unresolved.

Before finalizing a property purchase, it's crucial to ensure that all liens against the property have been satisfied or discharged. Working with a qualified real estate attorney can help you navigate this complex aspect of property transactions.

4. Easements and Right-of-Way Issues

Easements and right-of-way issues can restrict how you use or develop your property. Common examples include utility easements, which grant utility companies access to install and maintain infrastructure on your land, or access easements, which allow neighboring properties to access roads or utilities through your land.

Before buying a property in Indiana, carefully review any existing easements or right-of-way agreements to understand how they might affect your intended use of the property.

5. Forged or Fraudulent Documents

Unfortunately, forged or fraudulent documents can sometimes surface during property transactions, casting doubt on the validity of the title. Whether it's a forged deed, a fraudulent mortgage, or a fake release of lien, these documents can create a legal nightmare for unsuspecting homebuyers.

Another crucial role that title companies play is in facilitating the closing process. They act as neutral third parties during the closing, ensuring that all necessary documents are signed, funds are transferred securely, and the transaction is executed according to the terms of the contract. Their presence helps streamline the closing process and minimizes the risk of errors or misunderstandings.

To protect yourself against forged or fraudulent documents, work with reputable title companies, conduct thorough due diligence, and consider investing in title insurance to safeguard your investment.

In conclusion, while purchasing a home in Indiana can be an exciting milestone, it's essential to be aware of the common title issues that could jeopardize your ownership rights. By conducting due diligence, working with experienced professionals, and investing in title insurance, you can mitigate the risks and enjoy a smooth and worry-free homebuying experience in the Hoosier State.

In the world of real estate transactions, there's a silent but indispensable player: the title company. Often overlooked, Title Companies play a crucial role in ensuring smooth and secure real estate transactions. Nowhere is this truer than in the state of Indiana, where title companies act as the guardians of property rights and the facilitators of seamless transfers of ownership.

Understanding the Role of Title Companies

Firstly, let's demystify what a title company actually does. At its core, a title company specializes in researching and verifying the legal ownership of a property. They delve into historical records, comb through deeds, and check for any liens or encumbrances that could cloud the title. This meticulous process is aimed at providing assurance to both the buyer and the lender that the property can indeed be transferred free and clear of any disputes or legal issues.

Ensuring Clear Title

In Indiana, as in many other states, the concept of "clear title" is paramount in real estate transactions. A clear title means that the seller has the legal right to sell the property without any outstanding claims against it. Without a clear title, a transaction can be delayed or even fall through entirely, causing frustration and financial loss for all parties involved.

This is where title companies shine. Through their exhaustive research and examination of property records, they uncover any potential issues with the title early on in the process. Whether it's an unpaid tax lien, a boundary dispute, or an overlooked easement, title companies work tirelessly to resolve these issues before the closing date, thus ensuring a smooth transfer of ownership.

Providing Title Insurance

In addition to their research and due diligence, title companies also offer an invaluable form of protection: title insurance. Title insurance protects both the buyer and the lender against any defects in the title that may have been missed during the initial examination. This safeguard provides peace of mind and financial security to all parties involved in the transaction.

Facilitating Closings

Another crucial role that title companies play is in facilitating the closing process. They act as neutral third parties during the closing, ensuring that all necessary documents are signed, funds are transferred securely, and the transaction is executed according to the terms of the contract. Their presence helps streamline the closing process and minimizes the risk of errors or misunderstandings.

In the bustling realm of real estate, title companies operate quietly but indispensably, serving as the backbone of transactions. Within Indiana's landscape, where property rights hold profound importance, these entities are instrumental in safeguarding the integrity of each transaction. As you navigate the complexities of real estate dealings, take a moment to recognize and value the invaluable contributions of title companies, ensuring the smooth and secure progression of every endeavor.

The primary function of title companies is to guarantee the correct transfer of title, which is the collection of rights comprising ownership, possession, use, access, and modification of real estate. 

It goes without saying that if the title is not properly conveyed, your purchase of the property could be tarnished by limitations, disagreements, and even expensive legal liabilities. For this reason, unless a full-service title company provides expert title services, no real estate transaction should be completed.

Title Examination

It is important to remember that the individual selling you the property is not necessarily the real owner. Even honest sellers may fail to realize that they do not have a clear and marketable title to the property they are selling, barring cases of blatant fraud. 

During a title examination, every document related to a property's "chain of title"—that is, the deeds, tax records, and mortgage loan transactions connected to the property from its creation to the present—is carefully examined to make sure that nothing is incorrect or missing, such as an incorrect or missing deed, an unresolved claim, or an unpaid lien.

Clarifying the rights associated with the property, as well as any encumbrances or easements, is another benefit of a title examination. For instance, because of an easement that is documented in the public records, you could be able to enjoy the right to exclusive possession, but you might also have to provide third people permission to traverse your land.

filling out title insurance form

Title Insurance Policy

You are shielded from any potential problems with the property's title with title insurance. There is still a chance that there are "hidden hazards" that even the most meticulous title investigations may miss, even if the title looks free of any problems.

If an unidentified claimant challenges your ownership of the property, your title insurance policy will pay for the defense expenses and will even refund you up to the policy's maximum amount. Plus, to purchase the property, you need to obtain a professional title insurance policy as most mortgage lenders require the borrower to do so before closing.

Looking for reliable and comprehensive title services in Indiana?

If yes, Indy Legal is here for you!

In the absence of appropriate title services, even the most perfect dream property might turn into a nightmare. Getting reliable and efficient title examination and insurance services is crucial. Because of this, Indy Legal provides the most innovative and trustworthy title solutions available. You are confident that your needs are being handled by professionals, thanks to our meticulous title inspections and expertly crafted title insurance plans.

Call us at 317-214-6023 to learn more!

For the typical buyer or seller, navigating the many legal requirements and regulations involved in property transactions can be difficult. Because of this, title companies are vital to the process, offering crucial assistance to guarantee that the sale proceeds without a hitch and is free of legal complications. 

A comprehensive title search, which helps find any title problems that could cause legal problems later on, is one of the essential services offered by title companies.

The Title Search

Doing a title search on Indiana property is among the first things a title company will do when it becomes involved. It will examine all relevant public records to authenticate who owns the land and whether any encumbrances could affect the property's sale.

A real estate lawyer or title business will usually examine several documents during a title search, such as deeds, mortgages, tax records, court judgments, and other publicly available information about the property. By following this procedure, you can guarantee that the buyer will have a clear and marketable title to the property at closing and that the seller has the legal authority to transfer ownership to the buyer.

The Commitment

Following its evaluation of the title search, the title company will assess the information to ascertain whether the property's title is insurable. It will also draft a commitment that will be distributed to each party involved in the transaction.

A list of "requirements," or actions that must be completed by either party before the closing, will be included in the commitment. This timetable will include a list of steps to take care of any title-related issues that need to be fixed before closing. To make sure you are doing everything required in the lead-up to closing, it is crucial to go over the requirements again.

A list of "exceptions," or things that the title insurance policy will not cover, will also be included in the commitment. Any documents mentioned in the exceptions should be available to you through the title firm; you should analyze them to determine how they will affect your property and its future uses.

home property for sale

An easement on the subject land, for instance, will be mentioned as an exemption. It will always affect the property, therefore you should carefully study this document as well as any others that are included.

It is not necessary to disregard a commitment just because it has been issued and the title is insurable. For instance, if you are purchasing a home, a well-written real estate purchase contract should make it clear that your happiness with the commitment will determine whether or not you are required to carry out the deal through to closure. 

A buyer can determine whether or not to move forward with the transaction by carefully going over and analyzing the commitment. 

For instance, the subject property may be subject to particular restrictions, and a consideration of such constraints may indicate that the property cannot be used for the purposes intended by the buyer. 

The fact that the restrictions have a detrimental effect on the buyer's use of the property is not covered by insurance because the requirements are included in the policy's exceptions. The buyer is essentially out of luck if they discover this information after closing.

Mitigating Your Risks

The assistance of a title firm is necessary to guarantee a seamless and legally compliant real estate transaction. By conducting a comprehensive title search, the company can identify any issues with the property’s title and work to resolve them before closing. 

To comprehend any restrictions or exclusions mentioned, it is imperative that purchasers and sellers thoroughly read the commitment supplied by the title firm and, if needed, obtain legal counsel. 

Property transactions can be executed efficiently and confidently with the proper support from a reliable title company, minimizing the risk of legal complications. 

Reliable Indiana Title Service Company

Do you need expert advice on your real estate transaction? Want to know which title insurance best suits you? Need to know the documents or process involved in getting title insurance?

Whether you're asking one or all of these questions, our team at Indy Legal is here to help. Leave a comment or contact us by clicking this link.

Leading your customers through their sale or purchase and ensuring that you and your clients are prepared for closing is a process that real estate agents go through, whether they are handling ten transactions at once or just one. 

Additionally, you must have everything organized because your consumers want a seamless and joyous day.

To assist you in avoiding issues and mistakes, we've compiled a list of some of the most important considerations to make as you near the completion of your transactions and throughout the process.

  1. Verify that all of the paperwork your broker has requested is finished and entered into your document management system and make sure that every addendum has been included. Important note: If any of the paperwork is incomplete or improperly executed, your broker might not be able to grant your Commission Disbursement Authority (CDA).
  2. To avoid funding delays, make sure your sellers have given the title company access to mortgage payback details in advance of the closing date.
  3. Even though Homeowners Association (HOA) information is usually included in contracts, it's a good idea to ensure the title company has access to all relevant HOA data well before the closing.
  4. Was there a death among the sellers? Did they have a joint tenancy or tenancy in common? In that case, it must be revealed from the outset of the contract procedure. The seller must be prepared to give the title firm the necessary paperwork to prove ownership.
  5. Is it a trust or an estate? Is there a lawyer present? If so, the seller must be prepared to give the title company the necessary paperwork at the start of the contract procedure. 
  6. Give the title firm access to all modifications, extensions, and counter proposals right away, along with the inspection resolution. The closing could be delayed if there is any delay in sending these.
real estate broker holding key for closing transaction with buyer
  1. Is there a power of attorney in place for your seller or buyer? If so, they must inform the title company in advance of the closing for the proper name to appear on all paperwork. If this isn't given, documents may have the incorrect name on the day of closing, which could cause a delay.
  2. If so, what is the name of the corporation, and is this a 1031 exchange?
  3. Discuss the many closing choices your client will have with your title company in advance, such as mail-out, mobile notary, or remote online notarization (RON) closure. If a lender is engaged in the deal, they usually determine the available possibilities by requiring signed papers. Your title company can help inform your client in advance. If the customer believes they may be able to close remotely but ultimately is unable to, this helps to set expectations ahead of time and prevents annoyance as closing approaches.
  4. Before closing, provide the title firm with your Commission Disbursement Authority (CDA). Tell your title company in Indiana how you would want to be paid so they can wire money, mail the check, or cut you a check at closing. If you decide to go with a money wire transfer, make sure the title company calls you to confirm the wiring instructions before sending the wire. The CDA should contain any withholding, such as the home warranty you could be buying for a client.
  5. At least five days before closing, arrange a closing appointment with your buyers/sellers.
  6. Avoid scheduling a closing appointment after 3:00 p.m. if the move date is urgent or falls on the same day as the closing, as money could not be available that day.
  7. Make sure your clients are prepared to bring correct identification to the closure. This could include a state-issued ID, driver's license, or passport. Also, make sure to keep your social security numbers available.
  8. It is beneficial to supply your buyers with information about utility transfer. Check-in with them to ensure utilities are transferred successfully to the new address on the day of closing.
  9. Ensure that buyers are prepared to present funds to closing, either in the form of a cashier's check or a wire transfer delivered to the title company before the closing appointment. Important tip: Always confirm wiring instructions with your buyer and/or seller on the day they are sending payments by calling the title company from a verified phone number. Fraudsters target customers in real estate transactions, so remind your client to never entertain a call or email from someone claiming to be from the title company or you, as it could be someone fraudulent.
  10. If your seller owes rent for a leaseback to the purchasers, make sure they present cash to closing in the form you agreed on. Typically, a personal or cashier's check is accepted.
  11. Inform your buyers that the signature on the closing documents must match the signature on the form of identification they bring to the closing, such as their driver's license, passport, or other ID.

Now, these steps might sound easier than they truly are but don't worry, as long as you have the right title company working with you, you can make the closing transaction smooth and seamless.

Need a reliable title company in Indiana? If yes, IndyLegal is here to assist you.We've worked with various real estate agents and brokers in Indiana, and we take pride in providing a top-tier service for all our clients. Learn about our services by checking our website or calling us at 317-214-6023 today!

8315 W. 10th Street
Indianapolis IN 46234
317-214-6023

    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram