FREQUENTLY ASKED QUESTIONS

What is Title Insurance?


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.




How long does it take to close on a home?


Generally speaking most mortgages can close within 30 days.




What are the fees associted with Minnesota Title?


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




What are escrow services?


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.