Benchmark Title Company, LLC

 

Welcome to the second edition of Benchmark Title Company's new Title Tip of the Week Newsletter. We hope you find these tips informative and useful to you and your clients.

What is Title Insurance?
by Sarah Holdener, Esq.
When your clients ask you "What is Title Insurance?" and "Do I really need it?" the following explanation may assist you:

·         Title insurance is protection against loss if a covered defect is found in the title to your property. For a one-time premium your owner’s title insurance policy will remain in effect for as long as you own the property. Title insurance will defend you against a lawsuit attacking your title, or reimburse you for the actual money lost. 

·         Before a policy is issued, the title company conducts an in-depth investigation into the history of the property to detect, prevent and eliminate risks and losses caused by title problems. This is accomplished by searching the public records to document the chain of title to the property and to identify any outstanding claims.  

·         When you buy a home you are given title to the property, which generally means you receive full legal ownership. But sometimes there are “hidden” defects that may give someone else a valid legal claim against your property – such as errors in a deed or mortgage, liens against the property or the seller, claims of ownership by spouses or children of former owners, and invalid deeds created by someone who did not actually own the property or was not mentally competent.  Many of these problems might not be discoverable during the title search. The title policy you purchase at closing generally covers defects such as those listed above.  

·         Before closing you should review the title commitment issued by the title company. This document is a commitment to insure the property, subject to the exceptions listed after a thorough examination of the historical records concerning the property, and upon the completion of conditions to be met in order to insure the proposed transaction. Many of these conditions will be resolved at closing, such as paying off any mortgages of the seller. 

·         If you have questions regarding the conditions and exceptions listed in your title commitment you should contact your closer or title examiner for clarification.


Any questions can be directed to Benchmark Title at 618-239-3750. Please feel free to call or email:

John Howe
President

Doreen Miller, Esq.
Commercial Division Manager

Sarah Holdener, Esq.
General Counsel,
VP Production

Michelle Null
VP Escrow Operations


Serving you from three convenient locations:

Main Office:
1124 Hartman Lane
Shiloh, IL 62221
Ph: 618-239-3750
Escrow Fax: 618-239-3707
Title Fax: 618-239-3757
Fax Orders: 618-310-1589
President:
John Howe
www.benchmarktitle.net

318 North Main St.
Columbia, IL 62236
Ph: 618-281-9700
Fax: 618-281-9705

Manager: Randi Schur

4215 S. State Rte 159
Glen Carbon, IL 62034
Ph: 618-288-1695
Fax: 618-288-1852
Manager: Sara Sowell

Did you say free?

Be the first in your office to try out SureClose.com, Benchmark Title's new FREE online transaction management system. Why waste time making status phone calls or standing by the fax waiting for your title commitment when you can get what you need instantly from your own computer. Visit SureClose.com for more information or call April Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so you can start saving yourself time and money today. We'll even give you and your clients a free CD at closing containing copies of their closing documents.

Give me my policy!

Did you know that lenders and home buyers now receive their title policies at the closing table? Call Michelle Null, VP Escrow Operations, to learn more about this exciting new program.

Ready to Refi?

Lenders and homeowners will want to hear about our fantastically low new refinance rates. Call today for a quote!

Why wait?

You can place your next title order now by clicking here.

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Benchmark Title Company, LLC
1124 Hartman Lane
Shiloh, IL 62221

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