You’ve found the perfect home! But a title problem can turn that dream into a nightmare, leaving you waiting among a pile of boxes. Rely on our experts to check every circumstance and clear the road for the movers. Liberty Title can help ensure you’re protected for the long-term. For spotless title and escrow services, ask for Liberty Title.

A typical home-buying process looks like this:

1. Determine your finances and get pre-approved for a mortgage.
2. Work with a real estate professional to help you find your dream home, negotiate a great deal and make an offer.
3. Once your offer is accepted, escrow is opened and then you deposit earnest money with the escrow holder.

During the title process:

1. You or your agent will initiate an order for title insurance to ensure the property you’re buying is clear of any liens or legal actions. A preliminary report can be issued with the minimum of information; without even identifying the buyer or the terms of the sale. It shows the record title as it presently exists and is only an offer to provide insurance.
2. Your title officer performs three searches: Property, Name, and Tax searches. From that information, a preliminary report is created.
3. Once the report is issued, your title company begins a review by making a technical analysis of the documents of record. An interpretive view of all recorded matters is made to evaluate their impact on the title to the property. Among the questions the examiner asks are: Would any of the recorded matters prevent the buyer from using the property for its intended purpose? Can antiquated leases be eliminated from the policy per a review of the current leases?
4. In anticipation of title coverage, a site inspection is ordered. From the inspection report, the initial title product is supplemented to show any encroachments or other off-record matters which would ultimately impact the title.
5. Documents in the title process include: Preliminary Report; Commitment, the condition of title in the way we are willing to issue it; Pro Forma, specimen of what the requested policy, as requested, will look like; then finally, the Policy, the final contract of indemnity between you and the title insurance company.

During the escrow process, as the buyer, you will:

1. Order a Physical Inspection of property by a qualified inspector
2. Approve seller’s Transfer Disclosure Statement
3. Approve Preliminary Report
4. Order a property appraisal
5. Obtain loan approval from lender
6. Perform termite inspection and certification
7. Obtain Homeowner’s insurance
8. Conduct a walk-through 24 hours prior to closing to ensure that the seller has vacated the property and left it in the condition specified in the sales contract. If there are any major problems, you can ask to delay the closing or request that the seller deposit money into an escrow account to cover the necessary repairs.

On the day of the closing, as the buyer, you will:

1. Deposit the funds required in addition to any borrowed funds, to pay the purchase price with the escrow holder
2. Deposit funds sufficient for home and title insurance.
3. Arrange for any borrowed funds to be delivered to the escrow holder.
4. Deposit any deed of trust or mortgages necessary to secure loans.
5. Fulfill any other conditions specified in the escrow instructions.

Congratulations, you’re home!

Note: The above is general information only, consult your real estate professional for details about your specific situation.