Wow! Just what I needed girls!!! Thanks so much for this awesome information! I'll check all your videos tonight and share it for sure!!
@ArrowTitleServices3 жыл бұрын
Thank you so much Arturo! We're glad you enjoyed it!
@edgarcuellar93175 ай бұрын
Where are you located? And do you help on out of your state closings?
@lnapjr762 жыл бұрын
This was very helpful. Thank you.
@gregorylewis9442 Жыл бұрын
Awesome information 🙂
@SteichenFamily2 жыл бұрын
Question, if the title company does their job properly, there should be no issue, correct? So shouldn't they cover the cost of warranting their work?
@mattjames83502 жыл бұрын
Helpful
@algosaurus89198 күн бұрын
If title insurance is base on the "land" then why is the structuring of the fee based on percentage of the loan value and not the "land value"?
@franklinwill222 ай бұрын
I'd rather the discounted amount go to my buyer policy not the lenders policy.
@Whatever07045 ай бұрын
So as a lender, is a title insurance enough to cover me? I do not need a separate lenders insurance policy?
@christianstill.66548 ай бұрын
What about 2nd and 3rd position liens? Do they get lender policies too?
@118Columbus3 жыл бұрын
Title insurance is grossly mispriced and overpriced. There are 3 national insurance companies that have 85 percent of the market share. Those 3 companies lobby and pay off the state legislatures to set the price ridiculously high. The title insurance companies only pay out 4 percent of the premiums.
@mtnBikr3 жыл бұрын
I haven't been able to get an answer to this. I understand why an owner would need a title insurance policy, but why does the lender? The insurance is on the land, not the policy owner, so the owner's policy would cover any leins, claims, etc that pop up, which would resolve all title claims. What is left for the lender's policy? Can you give one example of a problem that the lender's policy would cover that the owner's would not? Why is the owner's homeowner's insurance policy acceptable and they don't need a separate policy for the lender?
@ArrowTitleServices3 жыл бұрын
Hi Darrell - thank you for your question! Lender’s title insurance does not protect your investment in the home (your equity). If someone sues with a claim against your property ownership, you are the first person responsible. The lender’s require a title insurance policy that protects them against claims that affect the lender’s loan. So if you are unable to pay when an issue happens - then they are still protected with their investment of lending you money. They're essentially covering themselves, and not you - so if they're protecting themselves, it's a no brainer that the owner should want to protect themselves as well. Also, the owner's policy lasts for as long as you own the property -so that could be 40+ years, whereas the Lender's policy only lasts as long as the loan still has a balance. We hope this helps clear it up!
@mtnBikr3 жыл бұрын
@@ArrowTitleServices Your explanation seems to stress the importance of an owner's policy. I understand the importance of that. I am trying to understand why a lender's policy isn't strictly double coverage. Why can't the lender just require the owner to have a policy without buying a new policy to cover the lender's interest? That's the case with homeowner's insurance. And can you not provide one example of a situation where the lender's policy will cover a lein, claim or another other financial issue where the owner's policy would not?
@ArrowTitleServices3 жыл бұрын
@@mtnBikr In our explanation - we mentioned the Lender's policy and the differences between them to why they need to be separate. You have to understand the purpose of one, to understand the other. Both policies are on separate amounts of money (one adjusts, and one doesn't), and they last for different amounts of time. The Lender's policy will not cover other liens and such when it comes to the property. When you receive a mortgage on a property - that is a new lien against the property. If buying or refinancing a property, whether strictly land or with a home, a lender will require their lien position is insured & A lender providing a first mortgage loan must verify their lien is in first position. Additionally, the most important reason comes to foreclosure. In the case of foreclosure, whoever is in first position, gets paid first. Lender’s title insurance does what it says - it insures the lender against anything missed during the title search or legal claims against the owner’s property. The title search states the ownership and lien status of the property, then title insurance protects the lender in case something was missed. In the event someone challenges your title, we will defend your title and pay all related costs and loss in property value that might ensue, up to the limit of your policy. . A lender’s policy insures ONLY the lender’s specific interest (their money) in the title to your home. Think of it like this: If someone tries to stake claim to your land after you've purchased it - If you have no mortgage - it falls on you. If you have a mortgage, it still falls onto you - BUT if there's anything that threatens the lender from having the first position mortgage wise - then the policy pretty much ensures they are still going to get their money because it's a policy that covers the loan amount specifically. Also don't forget Owner's policy isn't mandatory - but Lender's policy is. So if the Owner declines Title Insurance - the Lender is still protected.
@robertburch38132 жыл бұрын
Title insurance is a scam and should be 90% cheaper. Payouts are 5% of premiums, please research what Iowa has done.
@divalifecoaching3 жыл бұрын
Thank you for this video. I am getting sworn in as a notary on Nov 4th then onto title producer license and then signing agent. Thanks for helping me understand more about the process and industry. I will definitely check out title nightmares
@ArrowTitleServices3 жыл бұрын
Thank you for the feedback! We're so glad you found it helpful! :)
@thomastrice74703 жыл бұрын
This helped me better understand the whole picture. Thank you
@ArrowTitleServices3 жыл бұрын
We’re glad we could help! 😊
@nadiaspencer6663 жыл бұрын
Great job! This really helped me better understand both title insurances😊
@ArrowTitleServices3 жыл бұрын
Thank you for the feeback Nadia! We're so glad it helped you :)
@rathanickheng Жыл бұрын
Hi, @Arrow Title Service, I'm in the process of purchasing a house from a foreclosure auction. The title company said they cannot provide owners title insurance because there are tenants currently living there. What questions should I ask my title company to make sure I will have clear and marketable title? Thank you, Green
@juliemorris9102 жыл бұрын
What happens if you find out that there's the HOA and all that and now they're trying to get rid of your animals well that covered it
@bethanymartin45313 жыл бұрын
For the title insurance you keep saying "property" knowing its for LAND! why not just always say its LAND
@pdolan19802 жыл бұрын
I inherited a house in Texas through a ladybird deed. The home is clear of all debts. Should I get owners title policy? Will title company insure a owners title policy with a lady bird deed?
@jasonhscott3 жыл бұрын
When does the owner get a copy of the owner's title policy? Is it a document mailed after closing? Do you get a policy number from an insurance company? Or is it on the deed?
@angelcotton64853 жыл бұрын
The owner should receive a copy via mail after the closing. You can request that the title company sends you a copy via email
@ArrowTitleServices2 жыл бұрын
Hi Jason, Angel is correct! You will receive a copy in the mail after closing. It can always be requested as well 😊
@PhotographyInFlight41832 жыл бұрын
What about a condo, no land, will enhanced buyers title insurance protect you with a condo? Thanks.
@signonthelinewithcrystal24513 жыл бұрын
Good day , is this something that can be purchased after the fact?
@ArrowTitleServices3 жыл бұрын
Hi there! It can be purchased after the fact, BUT if anything comes up in the title search they would then be held responsible for paying or “fixing” whatever needed to be cleared. The major benefit of getting title insurance during the purchasing process is that as the new buyer, it is the seller’s responsibility to cover the cost and ensure that you have free and clear title in the transfer of ownership. Which is why it’s so beneficial for buyers to not opt out of the owner’s title insurance which specifically protects them 😊 We hope this helps!
@kaizablan47103 жыл бұрын
Hi! Do I need to pay again owners title policy every time I do refinance my home? Thank u to both of you!
@ArrowTitleServices3 жыл бұрын
Hi Kai! Yes, a new lender’s policy is required every time you get a refinance because the amount of the loan is changing & the lender requires it on the amount of the loan. We hope this helps!
@kaizablan47103 жыл бұрын
Clarification: Do i also need to pay the Owners title policy whenever I refinance later on? Tnx a lot!
@angelcotton64853 жыл бұрын
@@kaizablan4710 No, unless there is a change in ownership or the land
@ceciliaf1169 Жыл бұрын
amazing explanation. Thank you so much!!
@reneej86233 жыл бұрын
I inherited 5 acres of land. My plan was to build a house on it in a few months. I paid for a preliminary title search, it came back this past Friday with 7 judgments.... in my siblings name. Court fines and child support. Is this my responsibility? Can l buy title insurance now to avoid paying their debt? 🤦🏾
@ArrowTitleServices3 жыл бұрын
Hi Renee! Unfortunately, purchasing title insurance right now would not make the judgements satisfied. Title Insurance is most effective when there’s a transfer of ownership because a part of our job is to make sure the title is completely free and clear of those liens/judgements before transferring to the new owner. Then from there, it ensures that nothing from the past can come back to haunt you. But, with your circumstance - it really would just depend because if the property was just transferred to you via inheritance, it’s likely you will assume the debt they incurred. Without reviewing the title search, it’s very hard to determine what would attach to the property in the way of liens and judgments - so it’s hard to give a general answer. Since you already have a search, perhaps the person who did the search can guide you on what needs to be cleared to clear the title. We hope this helps!
@reneej86233 жыл бұрын
@@ArrowTitleServices It helped tremendously! Thank you!!
@ArrowTitleServices3 жыл бұрын
@@reneej8623 You're very welcome! Glad we could help!
@reneej86233 жыл бұрын
Back with another question, after satisfying the judgements. Can l buy title insurance to prevent any further judgments?2nd question maybe a stretch....but here goes... Can you'll refer me to a HELPFUL title company in Richmond Virginia?
@reneej86233 жыл бұрын
@Arrow Title Services
@jenismith10883 жыл бұрын
On the off chance that you are looking for the best title insurance in Miami Beach, you have in all likelihood run over the Consumers First Title Insurance Company. Visit:cftitleco.com/
@ArrowTitleServices3 жыл бұрын
Thanks for adding that Jeni. Good to know you're located in Miami - we actually handle closings all over the state of Florida 😀
@c19commander443 жыл бұрын
I dont think no home owner ever has problems with title insurance. its just a way for the loan company to make money. just like the lender title insurance . its a way for the loan company to make money.and they blank buyers legally.
@ArrowTitleServices2 жыл бұрын
Hi, thank you so much for commenting. That's actually not the case, we run into title issues all the time when we are preparing documents for closing. Our job is to make sure everything transfers properly and smoothly and we work behind the scenes to do just that. There are a lot of times when people prepare their own deeds incorrectly, or there are missing links in the chain of title. We find these errors and fix them before issuing a new policy. The loan company doesn't make money from the sale of a lender's policy. It is solely required because they want to make sure there are no title defects on the property they are funding. This is in their interest in case anything comes up in the future (and problems do come up sometimes - which is when you would put in a claim to title insurance just like you would if something damaged your home & you claim it on your homeowner's insurance). The Owner's policy truly does protect the buyer in their true ownership of the home and if anyone ever tries to fight that, that's when title insurance kicks in. We hope this clears this up for you! Let us know if you have any other questions!
@robertarce96472 жыл бұрын
Will a quit claim deed void out the lender title policy?
@eunicekim92544 жыл бұрын
I'm a newbie and this video helped me a lot understand the title insurance. Thank you!
@ArrowTitleServices3 жыл бұрын
Absolutely! Very happy we could help 😊
@jayfa4403 жыл бұрын
God the facade these ladies are putting up is so cringe, this the worst acting ive ever seen. If you want to make genuine connections with people just be yourself and be real and people will respect that much more. Could not stand the fake smiles and fake motivation.
@ArrowTitleServices2 жыл бұрын
Hi Jay! We're sorry you felt this was fake, definitely not the case. Go check out our video about how to be comfortable on camera: kzbin.info/www/bejne/ZpabeKeVp710gdk We truly are energetic people and our whole business/marketing is based around the fact of being authentic & loving what we do. Feel free to check us out on Facebook if you want some social proof! Have a great day!
@usaimon3 жыл бұрын
What if I bought brandnew
@ArrowTitleServices3 жыл бұрын
You still need a lender's policy if you're getting a new construction loan. Title Insurance insures the land itself and your ownership to it - so when you build a house on it, all it does is bring up the value of that land. Hope that helps!
@usaimon3 жыл бұрын
Ok. But do I still need an owners title insurance on a brandnew construction home?
@ArrowTitleServices3 жыл бұрын
@@usaimon Yes, because it's not on the home- it's on the land. The house may be new, but the land is not. The value of that land has just gone up with the new home.
@tiffanyjordan78723 жыл бұрын
I am buying a new townhouse, should I get title insurance even if I share the land with other townhouse owners? How does that work?
@ArrowTitleServices3 жыл бұрын
@@tiffanyjordan7872 Absolutely! When it comes to condos, apartments, and townhouses - title insurance is still very important because we research the chain of title (ownership) and make sure that there were no mistakes made in the past and insure the property in regards to the property being "free and clear". We're also the ones who handle the closing and put all the documents you need together for closing day. So even though there isn't technically land associated with your townhouse that you own - you still have "interest" in the land - or essentially part ownership. I hope that makes sense!