Frequently Asked Questions

Do I need Title Insurance? Most definitely! Title insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, title insurance pays the cost of defending against any covered claim.

How much does Title Insurance Cost? The one-time premium is directly related to the value of your home. Typically, it is less expensive than your annual auto insurance. It is a one-time only expense, paid when you purchase your home. Yet it continues to provide complete coverage for as long as you or your heirs own the property.

Can Traverse Area Title Service, Inc. handle the closing? Yes, in this area of Michigan it is customary for the Title Insurance Agent to act as a central clearinghouse for the parties involved - collecting necessary documents, insuring adherence to the lender's title instructions, making arrangements for proper payment and distribution of funds. We at Traverse Area Title Service, Inc. are fully prepared to work with you from the beginning of your transaction all the way through to conclusion.

What items are needed at closing? You will want to have these items complete or in hand when you come to the closing (please confirm with Donna or the processing staff to be sure you have what you will need):

Buyer
- Copy of Purchase Agreement
- Cashier's check for bottom line on settlement
- Proof of purchase of insurance for fire, casualty, etc. as lender is requesting
- Photo identification (passport, driver's license, or state-issued I D card)

Seller
- Copy of Purchase Agreement
- Invoices for any taxes, utilities, assessments paid recently showing due on Title work (Please let Processor know you are planning on paying PRIOR to close)
- Any unrecorded instruments that affect the title
- Proof of satisfaction of any mechanics' liens, chattel mortgages, judgments, or mortgages that were paid prior to the closing
- Photo identification (passport, driver's license, or state-issued I D card)