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Who we represent
What Services we perform
Dual Representation of Sellers and Buyers
Title Examination/Insurance
Examination
Normally at our office, but we can travel
(within a 50 mile radius
from our office) to do the closing for an
additional fee.
Normally, we
conduct a full title examination of the property
in compliance with The North Carolina Marketable
Title Act.
This means that we will search the title
for a period of no less than thirty years prior
to closing.
However, if we find an existing policy of
title insurance on the property, we will, with
your permission, “tack” to that policy.
This means that my title examination
would begin with the date and time of issuance
of that policy and that we will not certify the
status of the title to the property prior to
that date.
While defects in the title occurring
prior to my search period would not be reported
by us if we “tack”, they should be covered by
the existing title policy, so you should receive
the same title insurance coverage as if we had
conducted a full title examination.
Obviously,
“tacking” enables us to conduct the title
examination more expeditiously, and it should
not expose you to any increased liability. In
addition “tacking” frequently will lead to a
reduced rate of insurance from the title
insurance company, as they will be insuring a
smaller portion of the title.
Unless you immediately instruct otherwise, we
will either “tack” or conduct a full title
examination in our discretion.
Title examination does not
include any investigation into zoning or
building code compliance for the property, these
are issues for your property inspectors to
investigate.
Insurance
We will obtain a policy of owner’s title
insurance in your favor and a policy of
mortgagee insurance in favor of the lender.
You will be required to pay the title
insurance premium, which is normally computed at
the rate of $2.00 per $1,000.00 of the purchase
price unless you are entitled to a reduced rate
resulting from the existence of a prior policy
covering the property which we tack to.
We will do our best to obtain the
policies at the rate most favorable to you.
Please let me know immediately if you prefer
that we use a particular title insurance company
or a particular title insurance agent.
Survey
Termite Report
Homeowners/Flood Insurance
Closing
Funds at Closing
Disbursement of Funds
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