Title Insurance Information for Realtors & Lenders


 
Quotes - Real Estate Title in Lebanon, MO

Quotes:


Do you need a title insurance quote for property in Laclede County, Missouri? Please call, email or fax Jeffries Abstract and Title Company today. Please provide the purchase price and the loan amount so that we can more accurately provide a quote. We will also need to know if there is a mobile home on the property or if the home is new construction.
 
Lenders - Real Estate Title in Lebanon, MO

Lenders:


When ordering a title insurance commitment, please feel free to email or fax us your request. Please include the loan amount, any special coverages/endorsements you require, and contact information in case we have questions. (Please note, we must receive an order from you before we will finish the title work even if we do have the sales contract.)
 
Realtors - Real Estate Title in Lebanon, MO

Realtors


Please feel free to fax or email contracts to us. Please be sure to include any extensions or amendments.
 
 
 
We will also need to know the following:
Marital status of buyer and seller. If the seller was single at the time he/she purchased the property, the spouse will be required to sign documents even though he/she is not in title due to martial interest. If the sellers are recently divorced or are in process of divorce it will be necessary for us to review the divorce documents. If the property is titled in a deceased person's name, we will need to know the heirs and their spouses. If the seller's property is in a trust, we will need copies of the trust.

• We need to know how the parties what to have the title vested. This means not only as in joint tenants with rights of survivorship or tenants in common, etc., but also means the spelling of their name. Often times the contract will be one way (without middle initial, for example) and the loan documents will be another (i.e. with middle initial or whole middle name).

• Please note if a mobile home is located on the property and whether or not there is a title to the home. If the seller cannot locate a title, please include the year, make/model, VIN of the home. (Whether or not there is a title affects our ability to insure the home as part of the title insurance and also affects the documentation required by the DMV for affixation of the mobile home under the new surrender law.)

• If new construction please note date of beginning and completion of the home (new mechanic's lien laws may apply that could delay the sale of the property or our ability to insure).

• For efficiency, please have the sellers current mortgage company, loan number, socialsecurity number and mortgage company customer service number handy. We will send a payoff authorization form tobe signed and completed by the seller once the title commitment is complete.

• If there are any bills for home inspections, termite inspections, repairs, etc. we will need copies of those bills as soon as they are received. Due to TRIO requirements, lenders require bills prior to the release of the final Closing Disclosurethree days prior to closing. Any bills the lender is not aware of could require redisclosure and a delay in closing.

• If the buyer and/or seller will not be attending closing, we will need an email address or overnight address complete with phone number. We will need to be advised of this as quickly as possible prior to closing to arrange for the signing of documents.

• If the buyer or seller will be having someone sign for them using a power of attorney. We will need to review a copy of the power of attorney. If it is acceptable, the original power of attorney will need to be recorded with the Laclede County Recorder's office.
 
 

The More Information, the Better!


The Process

Once we receive your contract, the order will be entered into our system. We ask for a seven to 10 day turnaround but we can usually have the work done before that time. The length of time depends upon the amount of orders we have received and the amount of records that have to be searched. If we have done previous work on the land, it could shorten the length of time we require.

Once the title work is done, a commitment will be emailed/faxed to the lender (if applicable) and the realtors. Please be advised that contracts should be signed by both realtors to ensure receipt of the title commitment.

Upon receipt of the commitment, lenders and realtors should review the commitment for any requirements. The requirements will let you know what needs to be taken care of prior to closing such as seller's mortgage payoff, tax liens, issues with the title, etc.
 
Couple holding a key - Real Estate Title in Lebanon, MO
 
While we will order any payoffs for existing mortgages as a courtesy, we do require the seller to complete and sign a payoff authorization form. Most mortgage companies require written authorization to release any information to us. The form will be emailed to your realtor shortly after they receive the title commitment information.

We can close the transaction as soon as the requirements are met. If the buyer is getting a loan, the lender would need to be consulted by the realtor before a closing date is scheduled. If the buyer is paying cash, the closing can be scheduled as soon as both the buyer and seller are ready.

At closing, documents will be signed by both buyers and sellers. As a part of closing, Jeffries Abstract will actually deliver the deed to the Recorder's Office. We will also be responsible for making sure the seller receives their proceeds, the realtors are paid (if applicable) and any bills are paid that were collected on the settlement statement.

During the State allowed time, the buyer will receive in the mail the recorded warranty deed and a final title insurance policy. Those are for the buyer's records only.
 

Request More Information


For more information about Jeffries Abstract and Title Company or our title services, call us today at 417-532-7189.