FAQs

Title insurance is different from homeowners, auto or health as it protects against claims from past incidents not for the future.

When purchasing a home if you are getting a mortgage then yes you will be required to purchase a lender’s policy and an owner’s policy of insurance. These policies cover you as the homebuyer and the lender.

You can purchase property via quit claim deed but this is not recommended as the seller is not only transferring the title to your name but all liens, mortgages and any other encumbrance to the title. You would then be responsible to pay all those liens off to have clear title.

Your purchase agreement will state who pays what fees in the transaction but normally in Ohio the seller pays for the exam, ½ escrow fee, deed prep, ½ owner’s policy, conveyance and ½ conditional filing fee; the buyer pays commitment fee, ½ escrow fee, ½ owner’s policy, lenders policy, ½ conditional filing and county filing fees.

The buyer has the right to pick the title company because they are the ones who is holding the policy. The title company is supposed to be a non-biased 3rd party that works for both the buyer and the seller equally. If a realtor is pushing a title company on a buyer or seller it may be that they have an ABA or partial ownership of this company. If that is the case how is the company looking out for the buyer and seller’s interest when it is owned by a realtor that is representing one of the two parties.

An independent title company can keep their fees lower and works only for the buyer and the seller. They do not have any contracts or agreements with any realtors, lenders or third parties. They make the buyers and sellers their number one priority.