| Title Searches |
Escrows |
Credit Help |
Referrals |
| Title Company of America, Inc. provides a full range of residential and commercial title services. Whereas most of our business is referred by mortgage brokers, mortgage bankers and small banks, we also offer services directly to the general public. |
Tax Search:
The county collector is the keeper of real estate tax information. We will find out the current tax assessment plus any unpaid taxes. We need the Property Identification Number (PIN) and street address of the property.
Tract Search:
This is a search of the public records in the recorder’s office of the county where the property is located. We determine who the current owner-of-record is, and what liens have been placed against this property. In addition, we can show the current legal description. To order this search, we need the street address of the property.
Name Search:
This search goes into various court databases and locates active cases pending against an individual. In addition, we can locate copies of court documents. To order this search, we must have the person who is being searched come to our office and sign an affidavit of identity and a form giving us permission to do this search and share the findings with a specific party or parties. This person must produce two pieces of identification.
| NOTE: An order for title commitment includes all three of the above searches. |
Construction Escrow:
If you are planning to put an addition, remodel or build from scratch, a construction escrow is a good investment. If you are borrowing money specifically for this purpose, your lender will likely require this. If you are paying cash, this provides you with a series of checks and balances.
Any contractor (builder) or sub-contractor (tradesperson) you hire can file a mechanic’s lien against the property if they feel you are not treating them fairly. Most lenders will not extend a final mortgage until this lien is satisfied. A title company construction escrow tracks each tradesperson each step of the way to ensure they are paid only what they contract for.
Here is how a construction escrow works:
1. You enter into an agreement with a contractor to do the work. This agreement has an itemized contractor’s statement (an accounting form) as part of the package of paperwork. This statement shows which trades get paid for what work and how much that payment should be.
2. The lender will open a line of credit, called a construction loan.
3. As each phase of the work is completed:
a. The lender will send an inspector to verify what work was done.
b. With your permission, the lender will send the money to the title company. (A construction loan is like a charge card, you borrow what you need as you need it, up to a pre-approved limit.)
c. The title company will pay each sub-contractor and collect a lien waiver for the work inspected by the lender.
4. When all of the work is completed, the title company insures the lender that no other liens will be filed due to the work done on this project.
Phase:
Let’s say you are adding a master bedroom suite to your house, and it is a slab-on-grade addition. In order to pour the slab, usually the first phase, the following steps take place:
- An excavator comes in, scrapes away the topsoil and digs trenches for the footings and a trench for the drains in your new bathroom.
- A plumber comes in and connects the new drain pipe to your existing drain.
- The concrete company comes in and fills in around the drain, levels the ground, sets up the forms.
- The municipal building inspector inspects the preparation work.
- The concrete company comes back and pours the new slab.
This is when the lender will inspect the work to see that the excavator, plumber and concrete company all did what they were supposed to do. The lender’s inspector gives his report to the construction loan department; the construction loan department sends the money to the title company; the title company pays the excavator, plumber and concrete company and collects their waivers of lien. This payment is called a draw. |
 
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