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Title Insurance FAQs for Home Buyers

Title-Insurance-FAQ-top
Did you know that title insurance is the most effective, most accepted and least expensive way to protect property ownership rights? Because most consumers purchase title insurance only a handful of times in a lifetime, questions do arise when the time comes to purchase a property.

What is Title?

Title is your ownership right to your property.

What is Title Insurance?

Title insurance is a policy that protects your investment and property rights. There are two different types of title insurance: owner’s policy and lender’s policy.

OWNER’S POLICY

An owner’s policy protects your property rights for as long as you or your heirs own the home.

LENDER’S POLICY

A lender’s policy is usually required by the lender and protects only the lender’s financial interests. The buyer typically pays for this policy, but this varies depending on geography. For more information, please contact your Ticor Title Representative.

Why Should I Purchase Owners Title Insurance?

Owner’s title insurance is the best way to protect your property from future legal claims. It’s a one-time fee that covers you and your heirs for as long as you own your home. The owner’s policy also covers potential legal fees for settling claims against your property rights.

What Does Owner’s Title Insurance Cost?

The one-time payment for owner’s title insurance is low relative to the value of your home. The typical owner’s title insurance policy costs around 0.5% of the home’s purchase price.

How Long Am I Covered?

Your owner’s insurance policy lasts for as long as you or your heirs own your property. Your life will change over time, but your peace of mind never will.

Where Can I Get More Information?

Ticor Title helps educate homebuyers like you about the value of title insurance so you can protect your property rights. Contact a Ticor Title representative today to learn more about title insurance and the home closing process.

Ticor Title Welcomes Doyle Beekley and Sean Ainsworth to Sales Team

doyle-sean-announcement

We are pleased to announce that Doyle Beekley and Sean Ainsworth have joined the sales team in the Greater Puget Sound area. Doyle will be serving our new construction and builder clients and Sean working with our residential real estate clients and partners. Both bring a wealth of local industry experience and we are excited that they chose Ticor Title.

About Doyle Beekley

Doyle Beekley

Sales Executive / Builder Services
doyle.beekley@ticortitle.com
206-330-8703

Doyle Beekley has a strong background in customer service and sales within the new construction real estate industry. With over 15 years experience in the residential data resource and consulting industry, he has helped his clients understand such information tools as: New Home Trends, Land Vision, Development Life Cycle, Metro Study and most recently with Meyers Research and their data app Zonda.

Over the past 15 years Doyle has been involved with the Master Builders Association and most notably is the current Vice President of the New Home Council in the Puget Sound Region.

Doyle likes to spend his free time with family and friends, snowmobiling, golfing and traveling to warm destinations.

Look to Doyle Beekley to provide exceptional customer service here at Ticor Title.

About Sean Ainsworth

Sean Ainsworth

Sales Executive
sean.ainsworth@ticortitle.com
425-770-8070

Sean Ainsworth comes to Ticor with over seven years of experience in lending with Wells Fargo. His service-oriented ethic and focus on follow-through will prove to be a tremendous value to our Bellevue/East-side clients and partners.

Sean spends the majority of his time outside of work with his beautiful 4 year old daughter. he also plays competitive softball, travelling to places like Florida, Oklahoma, Vegas, etc. for World Tournaments each year.

Sean is very excited to join the Ticor team, and looks forward to working to providing solutions and exceptional value to the real estate community.

New! Local Utilities Added to Buyer & Seller Guide

Real Estate Buyer Seller Guide with Local Utilities

We are pleased to announce that our online Buyer & Seller Guide to Title and Escrow now includes local utility information for King County, Pierce County, and Snohomish County for our Western Washington clients. The added local utilities section provides a convenient and time-saving reference for contacting the following services in the towns and cities in the tri-counties area:

  • Cable / Telephone / Internet
  • Heating / Electricity / Natural Gas
  • Garbage / Recycling
  • Water & Sewer

 

What is the Buyer and Seller Guide to Title and Escrow?

Our Buyer and Seller Guide is a 60-page eBook that provides a wealth of answers to questions that consumers commonly ask before, during, and after a real estate transaction. Each section is written in concise plain English, making it easy to use for experienced real estate professionals and consumers alike.

How To Share the Guide

Sharing the whole booklet or a single page with a client, consumer, or colleague is simple. Simply click the share link below the booklet to share the entire publication or the current page.
share buyer seller guide

Happy New Year From Your Ticor Title Team!

new-year

We would like to wish you a happy and healthy New Year!

As 2017 comes to a close, we reflect on a year of growth, challenge, and success. We are very grateful for our clients and partners and we look forward to continued success together in the coming year. We enter 2018 with the vision, focus, team, and resources to be the leaders in our industry.

Cheers to a new year, new heights, good health, and strong relationships!

True Story: Escrow Closer Thwarts Last-Minute Wire Fraud Scheme

Last-Minute-Wire-Fraud-Thwarted

Leanne S., AVP Branch Manager of one of our sister offices, had a closing at 10:00 a.m. The buyer was obtaining a new loan to purchase the home. The buyer had not yet wired in the closing funds so she could not disburse the proceeds to the sellers.

Leanne made arrangements with the sellers at the closing to pick up the proceeds check later that day. The sellers indicated they were going to use the funds to pay off the home equity loan on their primary residence with Navy Federal Credit Union®.

A Last-Minute Change Requested via Email

Within 10 minutes after the buyer and sellers left her office she received the following email:

“Hi Leanne,

Thank you so much for assisting with the closing. But regarding our disbursement can you assist with changing disbursing to our Sun Trust bank account. Please note that this is very important. Kindly get back to me so I can send you wire instructions.

Thanks
Mr. and Mrs. Marty G.”

Wire Instructions via Email are a Red Flag

Leanne was confused. She just spoke to the sellers about the fact they bank at Navy Federal Credit Union. They never mentioned anything about SunTrust℠ being their bank. Plus, Marty was very specific about picking up his check.

Leanne replied to the email explaining she would not be able to accommodate his request unless he came back to her office to complete and sign her wire out instructions, and provide a copy of a voided check from his SunTrust account. She never received a reply to her email and Marty confirmed he never sent that email.

Careful Communication is Key

Be Aware!

Online banking fraud is on the rise. If you receive an email containing WIRE TRANSFER INSTRUCTIONS call your escrow officer immediately to verify the information prior to sending funds.

Leanne was confident she knew the email was a scam. She spoke in detail to the sellers about when their proceeds would be available, she knew their plans for the money and where they banked.

Leanne was particularly unnerved about the fact the hacker seemed to know exactly when the closing was scheduled for and when the sellers had left her office. It is scary how savvy the hackers were.

The proceeds were in excess of $355,000. Had Leanne not paid attention to the details, she could have fallen for the scheme. Instead, she is being rewarded and recognized for thwarting a loss the Company could have suffered.

Download This Article

Wirefraud-prevented.indd
Wire Fraud Thwarted

2018 Recorder’s Holiday Closure Calendars

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We are pleased to announce the availability of the 2018 Recorder’s Office Holiday Closure schedules for the Puget Sound and Spokane areas. These calendars assist in planning the timing of escrow closings at a glance, and each conveniently shows the following:

  • Days that the recorders offices will be closed
  • The last refinance-signing day for each month (in order to fund & record that month).
  • When Taxes become due

Download Recorder’s Office Calendars Below

Thank You, Spokane!

Thank-you-spk

Ticor Title would like to wish you and your family a very Happy Thanksgiving!

Thanks to the Spokane Community

We would like to express our deepest gratitude to our clients and partners in the Spokane area. 2017 has been a year of growth and success for Ticor Title in this marketplace, and our team of Title & Escrow specialists are thankful for every opportunity to partner with the people and real estate community of Spokane. We believe that every successful closing begins with a great team. Our team is committed to building strong relationships through listening, clear communication, consistency, and personalized service.

Thanksgiving Holiday Closures

In observance of Thanksgiving, our offices will be closed Thursday, November 23 and Friday, November 24. If you have questions regarding an escrow closing near that time, please contact your Ticor Escrow Officer or Sales Executive.

Escrow & Title Insurance 101 [videos]

Title Insurance & Escrow 101 Video Series

The Title & Escrow Experts

At Ticor Title, we’ve been insuring the home ownership dream for over a century. With a rich Pacific Northwest history and industry-leading financial strength, we provide the peace of mind and the personalized service that make the closing experience excellent for our clients and partners. If you have questions about the role of escrow or title insurance in your real estate transaction, our team of experts are here to help.

A Rare and Exciting Event

For most of us, purchasing a home is an event that happens only a few times in our lifetime. Today’s homeowner stays in their home an average of 11-15 years. So it’s understandable that the typical home buyer may be unfamiliar with how escrow operates, what protection title insurance provides, and how to be ready for the escrow process when the time comes to make a real estate purchase.

Title & Escrow in Plain English

We’ve assembled a series of brief videos here that provide an overview of escrow & title insurance as well as insights into what to look for in a title insurance company and how to be prepared for escrow closing.

What is Escrow

What is Title Insurance

What to Look for in a Title Insurance Company

What to Expect at Closing

Ticor Title Welcomes Jen Evans, Escrow Closer

Jen Evans Escrow Closer

We are pleased to welcome Jen Evans to our University Place Escrow team. Jen brings over 13 years of escrow closing experience and is excited to advance her career with Ticor Title. Her expertise, insights, and personal care will bring great value to our clients and partners.

Please join us in welcoming Jen Evans to the team!

About Jen

Jen Evans

253-620-1396
jen.evans@ticortitle.com

3929 Bridgeport Way W #202
University Place, WA 98466

Born and raised in Tacoma, Jen began her career as an Escrow Assistant in 2004 and progressed on to beccome an Escrow Closer in 2012. She is excited for her new venture as an Escrow Closer in the University Place office and her goal is to earn the LPO certification in 2018. She strives to provide clear communication, personalized service and consistency to her clients and goes above and beyond to make every transaction as smooth as possible. Jen looks forward to reconnecting with past clients and the challenge of expanding her book of business in the Puget Sound area.

Ticor Title Major Accounts Welcomes Kris Weidenbach

Kris Weidenbach Ticor Title

We are happy to announce that Kris Weidenbach has made the choice to join the Ticor Title Major Accounts Team in Western Washington. Kris brings a track record of success and growth with over a decade of leadership in the title & escrow space. His energy, insights, and acumen will truly prove to be invaluable to our clients and partners.

Please join us in welcoming Kris to the Ticor Title team!

A Word from Kris

Kris Weidenbach

Vice President
Major Accounts Division
253-312-3606

I’m excited to announce that I have joined the Ticor Title Team as Vice President in the Major Accounts Division. Ticor has established itself as a premier leader in the Title and Escrow industry with a combination of strong financial underwriting and a commitment to growth. All the while providing first class service, with cutting edge software, and empowering local leadership to effectively manage their individual marketplace. These are a few of the many reasons why I made the decision to join this team of exemplary business professionals.

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Contact

Ticor Title Washington State

1505 Westlake Ave N #150
Seattle, WA 98109
Phone: (206) 720-0114
Fax: (206) 720-0117

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