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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