• Fast identification of problems
• Direct access to the progress of your title work to avoid any closing delay
• Closing the transaction conveniently in a local office
• A name and reputation you can trust
• Competitively priced products and services
• Working with a First Place affiliate and having all your banking, real estate, investment and insurance needs under one roof.

With offices in Boardman and Warren, (map) TitleWorks is conveniently located so you can have your real estate and title work handled quickly and efficiently.

Title service. What it is and why you need it
The title search
Title insurance
TitleWorks services
TitleWorks' role in the home buying process
FAQs

Title service. What it is and why you need it.
In basic terms, the title is a record of all transactions regarding a particular tract of land. When you buy a home, you are actually buying the seller's title to the home and property. Having a title gives you the right to own, use and control that property. When you purchase your home, a title search and title insurance is needed to ensure that your title is clear and your purchase is protected from claims.

The title search is a detailed examination of the records and is conducted to discover if there are any claims, liens, restrictions or encumbrances on the property you are purchasing. verify that there are no claims, liens or other restrictions on the property you are purchasing. For example, let's say the home seller used a contractor to remodel a bathroom but never paid the contractor and never disclosed this to you. The contractor could put a lien on the title to your newly purchased home and you wouldn't know it without a title search.

Title insurance is your policy of protection against any loss if there is a claim against your ownership. For example, if our bathroom contractor in the example above has a lien on the home, but the title search didn't discover it, the title insurance would pay the contractor and protect you from losing your home.

TitleWorks services:

• Title search
• Title insurance
• Residential and construction loan closings
• Document preparation

TitleWorks' role in the home buying process

Step 1: Purchase agreement is signed and the realtor or lender orders a title search.

Step 2: A title search is conducted and a "Title Commitment" Report is generated. This is sent to the lender and realtor for the buyer and seller to review.

Step 3: Title defects, if any, are resolved and seller documents needed for closing are gathered and signed.

Step 4: Closing takes place at the bank or title office. This takes approximately an hour to complete. All loan documents are presented to the buyer for signing and are notarized. Funds from the buyer and lender are deposited in the title company's escrow account.

Step 5: Deed and mortgage are filed at the County Recorder's office.

Step 6: Property is transferred to buyer.

Step 7: All funds held in escrow are disbursed to proper parties.

Step 8: Final loan package of signed documents is sent to the bank and copies are sent to the buyer.

Step 9: Title policies and original recorded documents are sent to the lender and buyer.

FAQs

Why is transferring the title to real estate different from transferring the title to other items, such as a car?

Because land is permanent and can have many owners over the years, various rights in land may have been acquired by others (such as mineral, air or easement rights) by the time you come into possession of it, even if the land has never before been built upon. So in order to transfer a clear title to a piece of land, it is first necessary to determine whether any rights are outstanding.

Are there any problems that a title search cannot reveal?

Yes. There are some "hidden hazards" that even the most diligent title search may never reveal. For instance, the previous owner could have incorrectly stated his marital status, resulting in a possible claim by his legal spouse. Other "hidden hazards" include fraud and forgery, defective deeds, mental incompetence, confusion due to similar or identical names and clerical errors in the records. These defects can arise after you've purchased your home and can jeopardize your right to ownership. Title insurance is your policy of protection against loss if any of these problems, even a "hidden hazard", results in a claim against your ownership.

How much is title insurance going to cost?

Although charges vary by area, the typical cost for title insurance (which includes search services) is about 1 percent of the cost of the property.

How often do I have to pay for title insurance?

Just once, usually at settlement. If, down the road, you refinance your entire mortgage, you would need to purchase title insurance for that refinance.

How long does my title coverage last?

For as long as you or your heirs own the property.


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