Frequently Asked Questions
What is title insurance and why do I need it?
When you buy Real Estate, whether a home or vacant land, you can expect certain benefits from your ownership:
- You should expect to be able to occupy, sell, and use the property as you wish.
- To be free from debts or obligations not created or agreed to by you.
Title insurance protects these rights.
What is the cost of title insurance?
The single premium is directly related to the purchase price of your home. Typically, it is less expensive than your annual auto insurance. It is a one-time expense, paid when you purchase your home. It continues to provide complete coverage for as long as you or your heirs own the property.
Why do I need a separate title insurance policy when my lender has their policy?
A Lender’s Policy insures that your lender has a valid lien on the property. Most lenders require this type of insurance and require the borrower to pay for it. An Owner’s Policy, on the other hand, protects your interest in the property. Title issues, such as improper estate proceedings or pending legal action, could put your equity at serious risk. When a valid claim is filed, the policy covers the cost of legal defense as well as financial loss up to the face amount of the policy.
If I make a title claim will I lose my property?
If there is an adverse claim to your title, you should contact your title insurer or the agent who issued your policy. Title insurance includes coverage for legal expenses which may be necessary to investigate, litigate, or settle that claim.
What is a title search and what does it show?
Insuring a home’s title begins with a search of public land records affecting the property. The title insurance underwriter examines those documents to determine if the property is insurable. Many records will be searched including deeds, wills, trusts, outstanding mortgages, judgments, property liens, highway or utility line easements, pending legal actions, and defective notary acknowledgments.
Are there any issues that a title search does not show?
After searching and examining, a title problem may still be hidden or missed, such as a forged signature of a deed, an unknown heir who steps forward to claim ownership to property, an expired or forged power of attorney used during a property transfer, or an incorrect public record. A title insurance policy offers financial protection against these claims.
What is a Closing Disclosure/HUD-1?
A Closing Disclosure/HUD-1 is a form used by the settlement agent to itemize charges imposed upon a borrower/buyer and a seller for a real estate transaction. It gives each party a complete list of their incoming and outgoing funds on their transaction.
What is Closing Protection Coverage (CPL)?
Closing Protection Coverage is an additional coverage that is offered to a borrower/buyer, seller, or lender that indemnifies you against the loss of settlement funds resulting from individual acts of the Licensed Agent or anyone acting on behalf of the Licensed Agent, subject to certain conditions and exclusions specified in the Closing Protecting Coverage Form:
- Theft, misappropriation, fraud, or any other failure to properly disburse settlement, closing, or escrow funds.
- Inability to comply with any applicable written closing instructions, when agreed to by the Licensed Agent.
ESTIMATE CLOSING COSTS
Use the Emerald Glen Title calculator to obtain settlement related estimated costs. Contact our office or one of our agents to confirm your quote.
Integrity, knowledge, service and professionalism are some of the words which come to mind when describing the people at Emerald Glen Title. That’s why we work with them on our real estate investments whenever possible. I refer my clients to them knowing they will be in good hands. We’ve worked with Emerald Glen Title for many years and plan on doing so for many more to come!
Cheryl & Bill Maggard, Realtors
I just want to thank Kathy Longo and Karen Danko and the rest of the group at Emerald Glen Title for all the hard work you have done for my various property purchases and sales over the last 5 years. All of my transactions have run smoothly. It is great to be able to easily contact Emerald Glen with questions and to check on the progress of my deals. Emerald Glen Title has become a valuable part of my investment team.
Larry Varnick, Investor
RBL and Associates LLC, Evan Investments LLC
Being a Homebuilder, I have had the opportunity to work with pretty much every title company in Northeastern Ohio. I have found Emerald Glen to be the best. They make the process easy. They respond quickly to questions and are organized and prepared. I could easily join an affiliated title company and receive those benefits, but the service Emerald Glen Title provides outweigh the benefits of being in an affiliated business arrangement.
George Davis, President
I have used Emerald Glen Title for many years for my personal and business title transfers. Dealing with Karen and Kathy makes the process smooth and simple for all parties involved. Not all transactions are easy and many times they have discovered mistakes and worked diligently to research the issues to close in a timely manner. Besides Karen and Kathy, their complete staff has customer service as their first priority. I would highly recommend them for all your real estate transactions.
Carmen Paterniti, President
D&S Automotive, M.C. Mobility Systems, Inc.
I have worked with Emerald Glen both professionally as a Realtor and as a buyer/seller for the past 12 years. Karen and the staff have always gone above and beyond with their service, integrity, and professionalism. Every one of my clients who have used their services was very pleased with them. I highly recommend Emerald Glen Title for all your title and escrow service needs.
Helena (Leni) Dragar, Realtor
Platinum Real Estate
I have used Emerald Glen Title for over a decade and have found them to be professional, service-oriented and a notch far above the rest. From their staff to management and ownership, I cannot express enough how great of a company they are. I highly recommend them for anyone with real estate needs.
Khash Saghafi, Mortgage Banker
Liberty Home Mortgage Corporation
Working with Emerald Glen Title is the epitome of working with a family business. We are always just one phone call away from Kathy and Karen, a huge benefit that is hard to find anywhere else. When selling a home, title is one of those things that you want to happen silently, in the background with no bumps in the road. But when there is a challenge on a deal, Emerald Glen is always ready and willing to charge in like the cavalry and save the day. Even on evenings and weekends, we get great service here. We couldn’t ask for more.
Mike Ferrante, Realtor
Century 21 Homestar –21 Mike Team
When working with buyers and sellers in today’s marketplace, real estate agents want the best service for their clients and the customers involved in the transaction – Good communication, responsive, trustworthy and thorough processes are all things that I look for in a title company. Emerald Glen and their team of professionals have all of those and then some! I have been a loyal customer of Emerald Glen’s since they first opened their doors and they continue to grow and maintain the highest level of professionalism today.
Tim Garton, Owner/Realtor