What We Do... FAQ
What is a title company?
When buying or selling a home, a title company researches the chain of title on your home and insures that you receive or convey clean, clear title free from defects.
who chooses the title company?
Every part of the country is different. However, it is typically the buyer and seller who choose. A title company can be negotiated into a purchase contract and requested if refinancing. Often times, shopping for a title company makes sense. Here are a few things to keep in mind.
-What are the title companies' fees? Request a quote. Here is a link to our free fee calculator. The title company you choose should be able to provide this easily. Price comparisons can save you hundreds of dollars, however, many times, you get what you pay for.
-What are the turn around times? Some title agents are overwhelmed right now. That can impact time and service.
-Does your lender/realtor have a financial incentive for you to use their title company? Often times these financial agreements (ABA or Affiliated Business Agreements) do not provide the best service or quality. They are often NOT in the best interest of you, the consumer.
what makes wct different?
This is simple. We're a group of rockstars who love what we do and try to elevate the experience. Buying, selling, refinancing a home is a BIG deal. We get that. Trust the experts, trust World Class Title.
what states is wct licensed in?
World Class Title is licensed to offer title insurance in Ohio, Pennsylvania, New Jersey, Kentucky and Florida. Through our partners, we're able to service many more states. Click here to find out how we can help you.
is wct investor friendly?
do you work with (fsbo) for sale by owners?
What is dower?
Every week, we are asked the same 2 questions: What is dower? What can I do to terminate it?
Certain states are considered dower States—Ohio is one of them. Dower is basically the right of a spouse to receive a life estate interest in one-third of any real estate owned by their spouse.
If you are married and purchase, sell, transfer title, or refinance any real estate, your spouse must sign certain documents consenting to the transaction and releasing their dower interest. Signing of such documents (usually consisting of the Deed, Mortgage, Truth in Lending, and Right to Cancel) is transaction specific. Each and every time a real estate transaction occurs, the spouse must sign. There is no general document that releases dower.
Dower is perpetual and can only be permanently terminated under two circumstances:
Death or Divorce.
If you are legally separated, your spouse will still have dower interest. Unfortunately, if your separation is not amicable, this can lead to problems with obtaining a spouses’ signature. This is a situation that should be considered prior to entering into any purchase/sale contracts.
Click here to find out if we can help you.
What should i bring to closing?
What is title insurance?
Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.
Source : Wikipedia
My friend told me title insurance isn't NECESSARY, is that true?
No. Your friend is an idiot. He is probably the type of guy at a restaurant that goes to the bathroom when the check comes. We know his type. 😉
If you have a loan, you will be required to have title insurance. If you don't have a loan and you decline the insurance, should you have any claims to your title you could lose the property. It happens. It happened to Lincoln. Twice. Contact us with questions.
Who regulates real estate closings?