Title and Escrow
What is Title Insurance?
Title insurance is often misunderstood by most consumers.
Different from other types of insurance that protect you against losses that may happen in the future, title insurance protects YOU, the insured, from matters or faults that occurred in the past that may affect your property.
Close scrutiny by the title insurer of property-related-recorded documents aids in the elimination of many possible hidden risks that can undermine the validity of homeownership.
While the possibility of unidentified risks still exist after a transfer of title, the purchase of a title insurance policy protects the lender and buyer from invalid claims made against the title of a property.
So, yes – title insurance is important!
Types of Title & Escrow offered:
What Is Escrow?
An escrow, sometimes referred to as a closing, is an arrangement in which an impartial third party, called an escrow holder, holds legal documents and funds on behalf of a buyer and seller and/or lender. The funds are distributed and documents are recorded only in accordance with the written instructions received from the parties, thus consummating the transaction.
People buying and selling real estate often open an escrow for their protection and convenience. All parties rely on the escrow holder to faithfully carry out their mutually agreed upon instructions relating to the transaction, or to advise them if any of the instructions are contradictory or cannot be completed.
Once all terms and conditions of the written instructions have been fulfilled, and all closing conditions are satisfied, the escrow is closed and the transfer of property and money is accomplished.
Customer Information Services
Need it? Got it. Need it fast? Happy to help.
- List Packs/Trios *
- CC&Rs and Deed Copies *
- Map Kits *
- Targeted Prospecting Lists **
- Notice of Default Searches **
* Availability of Information is restricted based on state regulations and customer type.
** Additional fees may apply based on state regulations.
Builder & Developer Services
Whether it’s a single lot purchase for a custom home or a large subdivision, new construction projects have unique needs. AmeriTitle tailors our services to meet the needs of your project. Our experienced team is dedicated to providing the research, property information, and title and escrow services that you require for peace of mind throughout the entire process.
We offer services for each phase of your project, including:
- Customized Bare Lot or Developable Land Searches
- Developer Data Packages
- Robust GIS Mapping Services
- Comparable Sales Information* (on land, lots, or homes)
- Easement, CC&R, & Deed Copies
- Title & Escrow Services
- Early Issue Coverage (with approval – Oregon only)
- Document Transportation, Recording, and Notary Services
- Plat Recording Assistance
- Targeted Prospecting Lists
- Closing Convenience Services
Note: Availability of products and services varies by state and location. Fees may apply to services and products noted.
*Comparable sales information is available in Oregon
We have additional specialized tools and services for our builder and developer partners. Connect with a local AmeriTitle professional for details and information.
Centralized Order Services
Do you have title and escrow needs in multiple counties? AmeriTitle’s Centralized Order Services has the dedicated team you need to coordinate all of your transactions.
The AmeriTitle Solutions And Production (ASAP) Team provides one point of contact for order placement, order tracking, updates and communication. Focused on delivering the first-rate service that you and your clients expect, the ASAP Team’s proactive communication and attention to detail ensure that your orders are handled efficiently and accurately.
Contact us today for more information at 866-337-3776 or contact us.
Default & REO Services
AmeriTitle’s title and escrow teams are experienced in handling the unique challenges of distressed property transactions. We customize our already solid processes to meet the needs of our default and REO clients. Whether a deed in lieu, foreclosure or REO sale, AmeriTitle provides compliant title products and closing services for these transactions.
What Is An Underwriter?
A title insurer is often referred to as an underwriter because they “underwrite” the risk associated with hidden defects covered by the title insurance policy. We are not an underwriter. We are an agent and we work with our underwriter partners.
What Is Account Services?
Account Services is an arrangement to have a neutral party service the contract between a buyer and a seller. In doing so, the account servicing company handles the details, such as retaining the original documents for safekeeping; accepting and distributing funds; calculating principal and interest; and retaining reserves for taxes and insurance.
What Is the Difference Between a Warranty Deed Versus a Quit Claim Deed?
A Warranty Deed contains guarantees or assurances by the grantor (seller) that the deed conveys good and unencumbered title. These guarantees are known as covenants of title. Covenants may vary somewhat in their scope.
What Is the Difference Between a Mortgage and a Deed of Trust?
The mortgage is, in form, a conveyance of the land by the borrower to the lender, followed by description of debt and includes a provision or clause to the effect that the mortgage shall be void on full payment of the debt. A mortgage involves only two parties: the borrower and lender.
In the deed of trust, the borrower conveys the land, not to the lender, but to the trustee, in trust for the benefit of the holder of the promissory note that represents the debt.
I am Refinancing My Second Home in a Different City Than I Currently Live. Do I Need to Travel to Complete the Transaction?
No, you certainly don’t! AmeriTitle has many locations throughout Oregon, Washington, and Idaho. Choose an AmeriTitle location that best fits your needs – regardless of your location, your transaction can be handled seamlessly with AmeriTitle.
Do I Get the Keys to My New House When I Sign the Papers?
Although the signing is a very important part of the closing process, in reality, the transaction does not ‘close’ until the funds are provided to the title company and the deed to transfer title is recorded at the county courthouse. Keys are usually provided a day or a few days after signing.
How Does the Foreclosure Process Work?
A mortgage foreclosure is enforced in accordance to a court supervised foreclosure process, while a deed of trust foreclosure gives the lender the option to bypass the court system altogether by following the procedures outlined in the deed of trust and applicable state laws.
If I Want to Bid on a Property In a Trustee’s Sale, Do I Have to Have Money to Hand in a Bid?
Yes, certified funds above credit bid amount and up to the max you are willing to pay.
What is a REO?
The technical real estate acronym stands for “Real Estate Owned.” It includes any real estate inventory that is held by any lender, after the foreclosure process is complete. In order to be a true REO, the vesting deed into the lender’s name has been recorded.
How Quickly Can My REO Transaction Close?
The time frame is very similar to that of purchasing non-REO property.
What Is a Short Sale, and How Does it Work?
A short sale means that the note holder is getting “shorted” in funds due to them. When a homeowner sells a property, the lender agrees to accept a payoff amount that is “short” of all the funds owed to them. This happens when the loan they originated on in the past few years has a higher balance than the property is currently worth.