Thinking of Buying a New Home? Don’t Forget These Two Things!

Buying a new home is a big step and it generates a lot of excitement. Especially when you’ve found that perfect place, the home of your dreams, your Shangri-La.

But, before you get too excited, it pays to read the fine print. Rest assured, with a real estate transaction, there’s a lot of fine print. Here at First National Title Company, we can help you through the closing process, and we’ve got the experience and the resources to make sure your closing is done right.

Before you commit to your corner of the American Dream, there are a couple of things you want to remember. All the documents you’ll get during the process of closing are important, but these two will give you notice of any potential problems:

1. Title Commitment: This document contains a brief summary by which a title insurer discloses to all parties connected with a particular real estate transaction all the liens, defects, and burdens and obligations that affect the real estate. The title commitment is the result of a title search that is conducted to ensure the person selling the property is, in fact, the legal property owner, and to uncover any legal claims that could potentially exist that could give others any interest in, or claim to the property. At First National Title Company, we have a large staff of licensed title agents with years of experience that are assisting people just like you every day, and we want to put that experience to work for YOU.

2. Settlement Statement: This document is used to itemize services and fees charged to the borrower by the lender or broker when applying for a loan for the purpose of purchasing or refinancing real estate, and also includes charges and fees for other services provided as part of the real estate transaction, and displays the party that is responsible for paying for the service.

When you’re looking for an Arkansas closing company, First National Title Company is independent, we’re local, and committed to ensure the integrity of your transaction above all other interests. We offer a complement of title services to fit your specific needs, so feel free to call us today at any one of our convenient locations listed at the bottom of this page.