Most kinds of insurance are self-explanatory. Fire insurance protects against losses from fire. Collision insurance guards against the cost of a dented, damaged car. But what does it mean to insure …
Why do I need title insurance?
A real estate purchase is usually one of the best and most important investments you can make. A home is probably the largest single purchase you will make. You protect your property against fire and …
I am refinancing. Do I need a new title policy?
When you refinance you are acquiring a new loan, even if you stay with your initial lender. Your lender will require title insurance to protect their investment in the property. Even if you recently …
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How long is my title policy good for?
The Owner Policy is valid for the time your policy was issued until you choose to sell (transfer deed) your property–be that one year or twenty years of ownership. The Lender Policy is valid through …
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What are typical charges for title insurance?
In New Jersey, title insurance is strictly regulated and enforced. A title company must calculate the premium according to the rates set forth by the NJ Division of Banking and Insurance. What this …
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What are typical charges for closing?
1st Rate Title charges a settlement fee of $300.00 for normal business hour closings that occur in our office. We charge $350.00 for out of office closings during business hours and $375.00 for …
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Do I need an attorney when I am purchasing real estate?
We always recommend that you have an attorney. Title Companies are permitted to act as Settlement Agents; however, the representation is limited. Title Companies and/or agents under law are not …
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Do I need a new survey?
In “ONLY” the case of a purchase would a survey be required to be submitted to us unless a Lender requires you obtain one. We can order a survey for you, or you can order one yourself from the …
What are the problems that could affect my title?
The following are some of the types of title defect that would adversely (negatively) affect your property: Forged deeds, mortgages, satisfaction or release of mortgages and other instrumentsFalse …
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