Settlement Services
Settlement Services describe a whole array of services that relate to your title closing. With your request for services from Chalfant-Tompkins Title Guaranty, it could include any of the services listed below.
All fees are fixed, meaning they will not change regardless of the purchase price of your home. They are not the only fees, however, associated with closing costs. Consumers must also pay transfer & recordation taxes (buyer & seller, respectively) and a title insurance policy premium. These costs vary depending on the purchase price of your home.
- Title abstract
- Courier costs
- Tax certificates
- Admin fees
- Closing fee
- Notary fees
- Title insurance binder
- Recording service fee (if applicable)
- Power of Attorney (if applicable)
Title Insurance
Even the most diligent search of the public records could fail to disclose a number of title defects. So a title insurance policy protects you for the duration of your home ownership. Lender’s title insurance is required for all transactions, purchases and refinances, since lenders must also protect themselves. A lender wants to insure that the loan they are issuing is protected by title insurance, and that their investment is covered. A lender’s policy protects the mortgage holder (the institution that owns the mortgage). If there is a fault in title that results in a loss, the mortgage holder will be paid back. You will need to order a new lender’s policy to refinance your property.
Title Searches
Performing the title search is one of the first, and most important services we provide for every loan. Our diligent staff will work to ensure that all defects have been addressed and establish any roadblocks early to save money for both buyer, lender, and Chalfant & Tompkins Title Guaranty. Our experienced staff catches “clouds” in titles that other companies do not, ensuring a smooth title closing process!
Escrow Accounts
After the buyer and seller agree to terms of a sale, the sale goes into escrow, which can take several weeks (30-45 days) to reach closing. Escrow can be opened by the buyer or the seller’s real estate agent. The escrow agent and their company act as a neutral third party for servicing as custodian for funds and documents, providing a clearing house for payment of demands, and performing clerical details for the closing.
Loan Document Preparation
The quality of the preparation of your loan documents can be the difference between a smooth or a stressful closing. Mistakes made by other title companies is part of why we founded Chalfant & Tompkins Title Guaranty. We strive for 100% accuracy in each document. Whether it’s a HUD-1 Settlement Statement, a deed of trust, or the various notes necessary, we will make sure your documents are prepared right the first time!
Conventional, VA, FmHA, Fannie Mae, Construction Loans
Whether you are looking to refinance, or buy a new home, we can offer title services for almost any type of home loan, from conventional loans, VA loans, FMHA, Fannie Mae, or construction loans. Each type of loan requires different services, and we are experienced in navigating the closing process around each. If you have questions about a specific type of loan, call us today at (573) 346-2248 to learn more!
Notary Service
Most of our documents will require Notary services as well. Our staff is prepared to have all notary services ready and quickly secured so there is no additional waiting periods in the title closing process. Our company was founded to create a seamless transition for every step, and we will have all documents authorized properly the first time.