FAQ's

Buying or selling real estate can be complex, and it’s natural to have questions along the way. To make the process smoother, we’ve compiled answers to the most frequently asked questions about our services, title insurance, and the closing process.

Frequently Asked Questions

Whether you’re a first-time homebuyer, a seasoned investor, or a real estate professional, our goal is to provide the clarity and confidence you need every step of the way.

What is Title Insurance?

Title insurance is often confused with homeowner’s insurance, but they serve very different purposes. Homeowner’s insurance protects your property against future damage or loss (such as fire or theft). In contrast, title insurance protects you against issues from the past that could affect your legal ownership of the property—such as liens, unpaid taxes, errors in public records, or undisclosed heirs.

There are three main types of title insurance coverage:

Lender’s Title Insurance – Protects the lender’s interest in the property.
Owner’s Title Insurance – Protects the buyer’s ownership rights.
Closing Protection Coverage (CPL) – Provides assurance to lenders and buyers that funds and documents will be handled properly during closing.

How Does Title Insurance Protect The Homeowner?

When you purchase a home, you’re not just buying the property—you’re also assuming its legal history. An Owner’s Title Insurance Policy protects you against hidden risks or defects in the property’s title that could threaten your ownership rights.

This coverage can protect you from issues such as:

Forged or fraudulent deeds
False impersonation of previous owners
Undisclosed or missing heirs
Errors in public records
Deeds executed by minors or individuals of unsound mind
Unrecorded easements
Invalid documents signed under expired or faulty powers of attorney
Mistakes in marital status or delivery of deeds after death

For a one-time, low premium, Owner’s Title Insurance provides long-term peace of mind by covering these and other potential issues that might not be discovered during the title search.

Bonus: If you sell or refinance your home within 10 years of purchasing your Owner’s Policy, you may qualify for a discount on a new Owner’s or Lender’s Title Insurance Policy.

How Does Title Insurance Protect The Lender?

Lender’s Title Insurance is the most commonly issued title policy and is required by lenders whenever you purchase or refinance a home with a mortgage. This policy protects the lender by ensuring their mortgage holds the first and best lien position on the property.

If the borrower defaults and the lender needs to foreclose and sell the home, the policy protects the lender against any undisclosed liens or title issues that could affect their ability to recover the outstanding loan amount.

A common question we hear is:
“Why do I need to buy a new Lender’s Title Insurance Policy when I refinance?”
Each policy only covers the specific mortgage it was issued for. Once that mortgage is paid off—such as during a refinance—the policy becomes void. A new loan requires a new policy to ensure continued protection for the new lender.

Can You Select a Title Company of Your Choice?

Yes. You have the right to choose your own title company.

While your lender, realtor, or broker may suggest a title company based on their past experiences, you’re not obligated to use their recommendation. In some cases, the seller (in a sale) or the lender (in a refinance) may select the title company and pay for the title insurance. However, if you prefer to use a different company, you may be responsible for covering that cost yourself.

At Simple Title, we believe in transparent pricing, exceptional service, and smooth closings. If you’re looking for a trusted partner to guide you through your transaction, we’d be honored to earn your business.

What is a Closing?

A closing is the formal process of completing a real estate transaction. It involves all parties signing the necessary documents for financing and/or transferring ownership of the property, and distributing the collected funds to the appropriate parties as detailed on the Closing Disclosure or HUD-1 Settlement Statement.

What is Required to Ensure a Smooth Closing?

The ultimate goal of any real estate purchase or refinance is a timely, stress-free closing. When all parties cooperate and provide the necessary information, the title company can efficiently manage the process, minimizing last-minute surprises. At Simple Title, we believe that a well-prepared closing isn’t a luxury—it’s a necessity. With a knowledgeable, energetic, and personable team on your side, you can feel confident that your closing will be a success.

What Do I Need To Bring To Closing?

Please bring two forms of identification to closing, one of which must include a photo. If applicable, bring your closing funds in the form of a certified check made payable to Simple Title. Wire transfers are preferred for amounts over $10,000. Additionally, bring any documents requested by our team at Simple Title, or your mortgage broker, lender, or realtor.

What Happens After Closing?

After your closing is complete, Simple Title will disburse the collected funds to the appropriate parties as detailed on the Closing Disclosure or HUD-1 Settlement Statement. Key documents, such as the Deed and/or Mortgage, will be promptly submitted to the County Courthouse for recording. Once the recorded documents are returned, Final Title Insurance Policies will be issued and mailed along with the originals to the appropriate parties. We recommend keeping your Title Policy and Deed in a secure, easily accessible place—it may help you save time and money in future real estate transactions.