Question 1

What is Title Insurance?

Accepted Answer

Title insurance is a type of indemnity insurance that protects the holder from financial loss sustained from defects/fraud in a title to a property.

Question 2

How long does it take to close on a home?

Accepted Answer

Generally speaking most mortgages can close within 30 days.

Question 3

What are the fees associted with Minnesota Title?

Accepted Answer

Closing Fee:
REFINANCE
$275.00
PURCHASE
$545.00
WITNESS ONLY
$150.00
FSBO DOC PREP FEE
$450.00
CASH/LAND CONTRACT $300.00
SPLIT CLOSING FEE/SELLER SIDE ONLY $150.00
Additional Fees:   WIRE
$35.00
OVERNITE PKG
$25.00
DEED ESCROW
$150.00
TITLE SEARCH
$275.00 (plus recording fees, if any)
COMMERCIAL SEARCH
$375.00
CONSTRUCTION DRAW
$250.00
E-RECORDING FEE
$10.00

Question 4

What are escrow services?

Accepted Answer

Escrow refers to the process in which the funds of a transaction are held by a third party (ie. Minnesota Title) prior to the fulfillment or closing of the transaction.

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