Schedule a Closing

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PLEASE FORWARD CLOSING DOCUMENTS OR ANY CLOSING INQUIRIES TO: ilclosings@onwardtitlellc.com

If the property is located in a city that requires municipal transfer stamps, the stamps must be presented at closing. The member does not have authority to disburse on a transaction without municipal transfer stamps or a certificate of inspection when the municipality requires it. The transfer stamp and/or certificate of inspection must be brought to the closing. In addition, money cannot be collected at closing with the assumption that someone from Onward will obtain the stamp.

Title Insurance- Why You Need It

Know the lingo. A “Loan Policy” or “Lenders Policy,” protects the Lender and covers the outstanding balance on the mortgage, but it does not protect you as the homeowner. The second type, is called an “Owner’s Policy,” which insures you as the Buyer.
If a title claim occurs, it can be financially devastating if the owner is uninsured. If you want to protect yourself from claims by others against your new home, you will also want an Owner’s Title Insurance Policy.
An Owner’s Title Insurance Policy protects against previous mistakes, defects and hidden risks involved.

The Hidden Risks Behind Title

Errors Incorrect information in deeds, wills, trusts, mortgages, public records, or forgeries
Liens or judgments against the property Claims against the property or the seller that become the new owner’s responsibility after the sale.
Claims to ownership A claim to “marital interest” by the spouse or child of a former owner who was not mentioned in the previous owner’s will
Invalid Deeds Transfer by a previous seller who did not actually own the property or by a previous owner who was not mentally competent.
Lack of Access If you would have to cross a private road to get to your property and the owner of the road won’t allow you to do so.

Schedule A Closing

Thank you!

CONGRATULATIONS !

Title Insurance- Why You Need It

The Hidden Risks Behind Title