ANSWERS TO TITLE QUESTIONS
Title Insurance protects the ownership of land or property against claims of ownership. Example; A person steps forward claiming to own part of your land. In this case the insured (you) would be defended by the Title Company in court and against losses.
There are many other examples such as liens, tax debts, and restrictions that can be overlooked in the process of the title search.
Common Questions
Q - Are title charges negotiable?
A - No. Title insurance coverage in Pennsylvania and New Jersey is regulated by both states' respective Departments of Insurance. Therefore, you should choose the title insurance provider based on its reputation for service. That being said, charges other than the premium may vary among providers, and if you do choose to compare costs, be certain to inquire about any additional miscellaneous fees
Q - How are the premiums (payments) setup?
A - There is a one time fee (premium) that covers the buyer as long as they own the property, with the exception of refinancing your property. In refinancing lenders require to be in first lien position. They will ask for title work and insurance to ensure this.
Q - Do I need upfront fees for my Title Agency to get started?
A - No, you will pay your one time premium (fee) and any other costs at the closing. This will usually be rolled into your loan.
Q - How do I get Title Insurance?
A - Simply call, we will be more than happy to answer all your questions, begin your title work, and coordinate your closing.
Call us at 609.978.0019
Q - Can I choose a Title Agency myself?
A - Yes, you have The Right by Law to choose any Title and/or Settlement Agent.
Q - Do I need an Attorney when purchasing real estate?
A - No, it is not required in The State of New Jersey to obtain one when buying real estate.
If you choose not to hire an attorney, Title Agencies can coordinate and close your loan.
Nationwide Title Agency charges $300 for this service.
Q - What's the cost of all this?
A - Unlike other insurances, Title Insurance requires a one time premium. You pay a one time premium plus any closing costs.
Q - I want to refinance or purchase a home, can a title agency help me with this?
A - Yes, a title agency will help and guide you through the process, to include coordinating your file, dealing with the lenders and close your loan, etc. Just call (609.978.0019) we'll get you through and answer all your questions.
Q - Isn't my homeowners insurance good enough?
A - No, not at all. Homeowners insurance protects you against damage to your property or people. It does not protect you or your lender on claims against the rightful ownership of your property or title.
Q - I've lived in my house my whole life and my parents before that, I know this is my property, why do I need title insurance?
A - That maybe true, however, the lender doesn't know that. There are so many circumstances which could arise from, liens, tax liens, loans, fraud, multiple mortgages, etc. Your lender goes to great lengths to ensure their investments are secure, title insurance is just one of many requirements they have in the lending process.
Q - I am real busy and don't want to go through the time or hassle for my closing and I don't live near your office, what can you do?
A- No problem at all. With us you won't ever have to leave your home. We will do everything including send a closing agent to close your loan at your home or place of business any day, any time statewide that is convenient for you.
Q- I am convinced who do I call to get started?
A- We are here Monday thru Friday 9:00am to 5:00pm at 609.978.0019
or email us your name and phone number and we will happily get back to you the next business day to answer all your questions and concerns.
or
Simply tell your lender to use Nationwide Title Agency and provide them with the following information:
- Tel:609.978.0019
- Fax:609.978.0910
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Nationwide Title Agency, Inc.
2003 Trademark Nationwide Title Agency Logo and Name.
Licensed by The New Jersey Department of Banking and Insurance.
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609.978.0019 or FAX US AT 609.978.0910
TITLE AGENCY, INC.
