Providing Real Estate Settlement Services for the Seven Cities of Hampton Roads and Central Virginia since 2007.
Mission Statement : Our principles are centered on the concepts of Personal Accountability, Accuracy, Communication, Dedication, Dependability, Efficiency and Vision. With these principles in mind, we offer and coordinate a variety of residential and commercial real estate settlement services to provide real estate professionals and consumers with the keys to a smooth closing. Take a look at what we can do for you!
As a Title and Escrow company we offer real estate settlement services and title insurance services to buyers, sellers, lenders and developers. Essentially anyone who has an interest in a real estate transaction. True North Title is licensed to handle escrows, perform and insure title searches and conduct closings.
Here is why we are vital to your transaction:
- We obtain and review the owner history of the property, checking for who purchased the property, who sold it, and when.
- We perform tax searches to verify the present status of taxes.
- We conduct judgment searches to determine whether there are any general liens against the property.
- We clear title of any judgments or liens that may adversely affect either the conveyance of or ownership of a property.
- We issue a “Commitment of Title Insurance” to the lender after completion of the title search.
- We receive instructions and documents for the closing and prepare a final Settlement Statement.
- We are also responsible for collecting and disbursing all funds during and after the settlement.
At this point, you may be wondering why you even need insurance following an exhaustive title search (See 21 Reasons to Obtain Title Insurance). Unfortunately, it’s nearly impossible to guarantee a title is clear of hidden defects – those circumstances that could place you in a tug of war over the property. Examples of hidden defects include, but are not limited to: mistakes in interpretation of wills and other legal documents, impersonation of the authentic owner, forgery, missing heirs, falsification of records, and confusion stemming from similar names.
Because only the title to the land and not the land itself can be purchased, a homeowner risks losing their home and the land under it unless that homeowner possesses a clear title. Title insurance guarantees the title as reported. Should hidden defects surface at any time challenging an owner’s rights, the title company will defend the title, in court if necessary, and cover the owner’s losses up to the full value of the policy.