Frequently Asked Questions
A: Yes. The information we request is necessary in order to best serve you and process your transaction in a timely manner. If we have sent you forms to fill out, please fill them out to the best of your ability and return them as soon as possible.
Q: ESCROW vs ESCROW: What is the difference between your Escrow Services and an Escrow Impound/Reserve Account?
A: Escrow services are the collection of funds and preparation of document to transfer ownership to the property. Your escrow reserve account is the collection for monthly property taxes and homeowner’s insurance held by the lender. Lenders may require reserve account to protect their collateral interest in the property by guaranteeing payment of taxes and homeowner’s insurance premiums.
Q: We have to request time off of work. How much notice can we expect when scheduling a signing appointment?
A: The typical signing appointment takes approximately 1 hour for buyers and 30 minutes for sellers. Our goal is to schedule the signing appointment at least 1 or 2 days prior to the target closing date listed on the purchase and sale agreement. Flexibility is essential surrounding the target closing date due to unexpected short time frames.
Q: Is “signing” and “closing” the same thing?
A: Signing usually occurs a day or two prior to closing. Closing is recording the deed and delivering of funds to the seller.
Q: Do we have to sign in blue ink?
A: We prefer that you sign in blue ink because it allows easy determination of original documents from copies, but it is not a requirement. Lenders may have specific requirements that you sign in blue ink, and if that is the case, we must follow their instructions.
Q: Can we bring our children to signing?
A: Yes, children are important. However, it is our experience that when customers bring their children into signings, the parents are distracted from the closing documents.
Q: Why is our payoff so high?
A: The most common reason that payoffs are higher than the balance that our clients view on their monthly statement is interest for the month. Interest follows a month behind of the principal balance; it is the opposite of rent. Also, there could be pre-payment penalties or late charges that add to the total balance due.
Q: Can I put my cash to close on my VISA?
A: Because of the “collected funds” law, which states that we need “valid or good funds” to close the transaction, we require local cashiers check, wired funds or cash at closing.
Q: The records on septic and well systems found in the health department show the location of the drain field I have on my property. Why didn't my title report show that information?
A: Records from the health department are deemed to be available to the public; they are not considered to be “constructive notice” until they are recorded with the Kitsap County Auditor. Title Companies report constructive notice records.
Q: The property I am going to buy has a wonderful view. Why didn't your title report indicate that surrounding properties have height restrictions?
A: Unless the view covenant was written to encumber both or all properties associated with the view covenant, the index search on your property will not discover the instrument. A title report only reflects items of public record that the property is subject to.
Q: I have a common name, and I am not a party to any judgments or tax liens. Why have I been asked to complete an affidavit requesting personal identity questions?
A: In the instance of common names, we often request a “Personal Information Affidavit” to be provided to us as a tool to eliminate liens or judgments that would create an involuntary lien against the property if they were against you. We have a duty to investigate and eliminate any potential claims associated with common names because under the terms of the insurance policy, we are insuring against loss or damages associated with any collateral attacks from involuntary liens.
Q: Can a title company show me where my property lines are?
A: The location of the accurate boundary of any real property can only be determined by a licensed surveyor. The scope of title insurance does not provide the professional license and expertise required. We work closely with local surveyors in our area and can provide a list of qualified surveyors to assist you if you choose to locate your property lines.
Q: My mother's will leaves the property to me. Why can't I sell the property without my sister being involved?
A: The title company will not know if the will is your mother's last and only will. The title company must have all of the heirs join in the conveyance to the new purchaser or convey the property to you first. Alternately, a probate court proceeding may be required.
Q: Why is the fact that I don't have a road maintenance agreement with my neighbors going to cause a delay in the sale of my house?
A: In today’s lending environment the necessity for maintenance is deemed to be an important factor in the value of the property. Many lenders require that a maintenance agreement is in place before lending money.
Q: I'm refinancing. Why does my lender need title insurance?
A: When you refinance, you are obtaining a new loan, even if you remain with your original lender. Your lender will usually require a new title search and Loan Policy to protect their investment in the property.
Q: My dissolution of marriage was in Lincoln County, and I was awarded the Kitsap County property. Why did my title report show that my former spouse and I still own the property as husband and wife?
A: Our search only covers Kitsap County; as such, we are not aware of matters filed in other counties unless we are informed of them. We would need to see a copy of your dissolution in order to correct your title report.
Q: My title report indicates an easement is “unlocatable”. What does that mean?
A: Your title report indicates what is of record against a property. If the recorded document creating the easement does not give a specific location of the easement, or if it does not give a location at all, it will show as unable to be located or “unlocatable”
Q: What happens if I have to submit a claim? Who do I contact?
A: Claims should be submitted in writing to the insuring company that issued your title insurance. Instruction on submitting a claim can be found in the “conditions and stipulations” portion of your title policy. When submitting a claim, include the policy number and the county and state where the land is located, or a copy of your policy.
Q: I don't understand my title report? Can you help me understand what it is saying?
A: We would be happy to explain your title report with you either in person or on the phone. You can reach our title department at (360) 307-6308.
Q: Who do I contact if I have a question on your title report?
A. Call our Title Department at (360)307-6308.
Q: Can my policy transfer to the next owner? How long am I covered ?
A: Your owner’s policy will cover you and your heirs until the property is conveyed to another owner. (read more)
