Consumers

We work with all parties to ensure a clean and accurate transaction every step of the way. As a buyer or seller, you can depend on us to be in contact with lenders, realtors, or refinancers to save you the frustration of possibly missing a step in this complicated process. We also work diligently to prevent the occurrence of expensive mistakes, mishaps, or distractions, allowing the process to flow smoothly.

Most real estate deals are complicated enough as it is, and they can become even more convoluted if documents are inaccurate or incomplete. As a CFPB compliant title company continuously ensuring the security and protection of all valuable and private client information, we ensure that your transaction runs smoothly, and that all documents are both accurate and legal.

At SNTG, we have the ability to track each of our client transactions in real time. We provide timely closings scheduled at our customer’s convenience. This means we make ourselves available during and after business hours and at locations that are convenient for you. We also ensure prompt recordings and disbursement of funds.

There are two types of title insurance:

The Lender’s Policy is a separate policy which protects the lender’s interest in the property, up to the outstanding balance of the buyer’s mortgage. The Lender Policy protects the lenders against loss due to unknown title defects. This policy protects only the lender’s interest; it does not protect the buyer.

The Owner’s policy protects the owners against loss due to any “hidden hazard” that can result in a claim against your ownership. Owner’s coverage provides for legal defense of any liability or loss that may arise.

The following are various forms of tenancy commonly used in the Commonwealth of Virginia.

Tenants By Entirety With Common Law Right Of Survivorship

Only husband and wife may hold title with this tenancy. Should one spouse predecease the other, title to the property automatically vests in the survivor.

Joint Tenants With Law Right Of Survivorship

Two or more people may hold title this way. As with Tenants by the Entirety, should any one owner predecease the other owner(s), title automatically vests in the survivor owner(s).
A lien or judgment against any one owner could be a lien against the debtor’s interest in the property.
A married couple may NOT hold title this way.

Tenants In Common

Any two or more people (including husband and wife) may hold title this way. Each person has an undivided fractional interest in the property.

In the event of an owner’s death, his or her interest will NOT pass automatically to the surviving owners, but rather will vest in the heirs or devisees under his or her will, or pass by the laws of Intestacy if no will exists.

Individual Ownership/sole Owner

The property is conveyed to one owner who has the exclusive use and benefit of the property and the right to dispose of it.

WHAT DOES A TITLE COMPANY DO?

Title Companies play a quiet role in a Real Estate transaction. However, we handle one of the most delicate parts of the process. We make sure that the sellers listed on the contract owns the property being sold and we research if there are any liens or judgments against the sellers that are attached to the property being purchased. We coordinate with all parties involved in the settlement and we look for any potential problems in the transactions. We then clear any “title defects” in a timely manner. At the settlement table we collect funds from parties involved, transfer ownership, and issue title insurance for both the purchaser and lender. The title company prepares and records the Deed, Deed of Trust and all necessary documents that must be recorded.

WHO DOES THE TITLE COMPANY REPRESENT?

The title company does not represent the buyer, seller or the lender in the manner that an attorney would represent a client. The title company is, in effect, legally neutral. The title company’s task is to transfer the property in compliance with the terms of the contract and the requirements of law and to close the loan in conformity with the instruction of the lender.

WHAT IS TITLE INSURANCE AND WHY DO I NEED IT?

There are two type of title insurance. The Lender’s policy is a separate policy which protects the lender’s interest in the property, up to the outstanding balance of the buyer’s mortgage. The loan policy protects the lenders against loss due to unknown title defects. This policy protects only the lender’s interest; it does not protect the buyer. The Owner’s policy protects the owners against loss due to any “hidden hazard” that can result in a claim against your ownership. Owner’s coverage provides for legal defense of any liability or loss that may arise.

HOW LONG DOES MY COVERAGE LAST?

For as long as you or your heirs retain an interest in the property, and in some cases, even beyond.

WHO CHOOSES THE TITLE COMPANY?

By law the consumer has the right to choose the title company of choice to conduct your settlement.

IF THE TITLE COMPANY DOES ITS JOB RIGHT, WHY SHOULD I NEED TO PURCHASE TITLE INSURANCE?

The title examination performed by the title company is thorough, but limited to public records. Suppose a previous owner recorded his or her marital status incorrectly, resulting in a possible claim by a legal spouse. Or a prior owner of your property recorded a forged deed. There would be no way for the title company to know that this document was a fake. At some point, the rightful owner could come forward to claim ownership of the property. Without title insurance, your investment is at risk.

QUE ES UN SEGURO DE TÍTULO?

Es una Poliza, emitida por la compañía de Seguro de Título, la cual asegura al comprador de la casa contra errores en el título. El costo de la poliza está usualmente en función del valor de la propiedad, y es generalmente asumido por el comprador y/o vendedor.

CUÁL ES LA DIFERENCIA ENTRE “POLIZA DE PROPIETARIO” Y “POLIZA DEL PRESTAMO”?

La Poliza de Propietario es emitida al dueño y garantiza que el título de la propiedad que él/ella está comprando o refinanciando está libre y clara de cualquier error.
La Poliza de Prestamo es emitida cuando se otorga un Préstamo Hipotecario sobre la Propiedad. Esto garantiza que el título de la propiedad sobre la cual se están otorgando los fondos está libre y clara de errores.

PODRIA NOMBRAR ALGUNOS EJEMPLOS EN LOS ERRORES DE TITULO?

Hasta la mas meticulosa búsqueda en los registros públicos podrían no revelar los errores ocultos del título. Ejemplos de aquellos riesgos ocultos y potenciales son:

  • Falsificación
  • Impersonalización o Robo de Identidad
  • Fraude en conección con la ejecución de documentos
  • Descripciones legales incorrectas
  • Escrituras sin entregar
  • Reclamos insatisfechos no registrados
  • Tergiversación del estado marital de los otorgantes
  • Escrituras ejecutadas ante un poder notarial falso o expirado
  • Herederos desaparecidos o no declarados
  • Confusión debido a la similitud de nombres o nombres idénticos
  • Testamentos probados incorrectamente
  • Derechos de ex-esposos o ex-esposas de los propietarios anteriores.
  • Mala interpretación del testamento y fondos
  • Indice incorrecto
  • Incopetencia mental de los otorgantes
  • Errores administrativos registrando documentos legales
  • Tramitando por un menor
  • Entrega de escrituras después del fallecimiento del otorgante
  • Nacimiento de herederos despues de la fecha del testamento
POR QUÉ NECESITO UNA INSPECCIÓN DE LA PROPIEDAD?

La inspección confirma los límites de la propiedad anotada en el contrato. En la mayoría de los casos su prestamista le requerirá hacer a usted esta inspección. Nosotros en Strategic National Title Group lo asistimos a obtener esta inspección en su propiedad.

QUÉ NECESITO TRAER PARA EL CIERRE?
  • Documento de identifiación otorgado por el gobierno, tal como su licencia de conducir
  • La Póliza de Seguro de Riesgo
  • Cheques para hacer los pagos necesarios
CUÁNTO TIEMPO DURA EL ACUERDO?

Normalmente toma una hora, pero todo depende si el vendedor y el comprador están de acuerdo con los términos de cada uno y el nivel de conocimiento relacionado con el proceso del acuerdo en sí.

QUÉ ES UN ESTIMADO DE BUENA FE?

Es una disposición requerida ante el Acta de Procedimientos para Acuerdos de Bienes Raíces” (en el Ingles RESPA) que debe ser dado a todos los solicitantes del prestamo al tiempo de la aplicación. Esta disposicion es un estimado de todos los gastos del acuerdo en el que se incurrirá durante el cierre.

After closings, all documents signed at the table and post-closing signings, such as deed and final title policies are delivered to a secure file share database through Digital Docs.

To sign up for DigitalDocs, click here.

To login to your DigitalDocs account, click here.

To learn more about Digital Docs, click here.

To find out more about our services and how we can be your partner every step of the way, call us today at 703.637.9030 and speak with one of our qualified professionals.

Corporate Office:
2010 Corporate Ridge Dr, Suite 720, Mclean VA 22102

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