Vienna office: (703)-378-1395 enesheim@titleonegroup.com

Title insurance can be one of the more confusing products when it comes to Real Estate. Fortunately, places like Title One Settlement Group make the process simple and easy to understand. Still some people get confused so we have compiled a list of the most commonly asked questions about title insurance and provided you with simple concrete answers. Below you can find the answer to the title insurance questions that always confused you.

Can I have my funds for settlement wired into your account?
Yes, Title One accepts wired funds at no charge. If the funds are not received by Title One prior to your settlement, your settlement will be incomplete. We will accept a personal check for any amount due under $1,000.00. A balance due in excess of $1,000.00 requires either certified or wired funds. We suggest that you contact your bank several days prior to settlement and wire the funds no later than one day prior to your settlement. Often times, companies that wire funds will require written authorization, and need more than 24 hours to process and complete the wire transmission.

Why can’t I receive the proceeds from the sale of my property at settlement?
State statue prohibits disbursement of funds from a settlement until the transaction is recorded in county/city Land Records. The recordation can often be time consuming, and varies between different counties depending on the jurisdictions’ specific recording requirements and their volume of recordings.

Can I receive a seller or realtor credit at settlement?
Yes, you can receive credits at settlement. However, different lenders have different requirements regarding credits at settlement. Lenders will typically not allow credits that exceed the amount of the purchaser’s/borrower’s settlement costs from page 2 of the HUD Settlement Statement.

How long does it take to conduct my settlements?
Typically a settlement will take about an hour. The majority of documents you sign at settlement are standard for every transaction. Should you wish to read these documents ahead of time, please let us know in advance so that we can try to forward you the standard documentation for your review prior to settlement.