Services
Title Insurance
We provide title insurance policies for both the lender and the buyer. This insurance protects against financial loss due to title defects, such as errors in public records, undisclosed heirs, or fraudulent claims on the property.
Closing / Settlement
We manage the closing process, preparing and organizing necessary documentation, coordinating with all parties (buyers, sellers, lenders), and ensuring that all steps are completed for a legally binding transaction.
Recording Documentation
After closing, we ensure that deeds and other key documents are properly recorded with the county or local government. This secures the new owner’s legal rights and completes the transaction.
Tools
Realty Transfer Fee
Calculator
Title Fee
Calculator*
* Please note on the title fee calculator, these are estimated numbers, please contact us for a more accurate quote.
Frequently Asked Questions
Title insurance protects lenders and buyers from financial loss due to defects in a title to a property.
The most common claims filed against a title are back taxes, liens, and conflicting wills.
A title insurance policy will cover numerous risks like flawed records, incorrect ownership, and falsified documents.
Any real estate transaction must have a clear title to ensure that the property is free from liens.
Research the Chain of Title
Title companies will research what is called the Chain of Title or the full history of the home’s ownership.
Look for Liens
We look for existing liens. A lien is a legal claim made against property that comes into play when a consumer takes out a loan or needs to repay a debt. They’ll also make sure all property taxes are paid in full.
Perform a Property Survey
Balance Title will conduct a Property Survey. This is required to close on a home in most states, surveys ensure that the home occupies only the space indicated on the title.
Provides a Title Abstract
The company provides a report called a title abstract. You and your lender will get a copy to review before you close on your home. The abstract is not your title insurance policy. That’s a separate document you’ll get from your agent (Balance Title?).
Provides Title Insurance
Title companies provide two kinds of title insurance policies: one for you (the buyer) and one for your lender. Because your lender has a financial interest in the property, title insurance protects them the same as it does you. If someone comes forth with a claim for the property that was missed in the title search, they are protected financially and legally. Generally, the seller of the home you’re buying pays for your title insurance policy, and you pay for your lender’s policy. But, unlike most insurance policies that require you to pay a yearly or monthly premium to keep your coverage, you only have to pay title insurance once when you close on the property. You’re then covered for as long as you own the home.
Establish Who Holds the Title
It’s important to work with your title company to make sure that the wording on your title accurately describes who has the right to transfer ownership. Your title phrasing may also affect how you pay property taxes and fees if you sell your home in the future.
Manage the Closing
Title companies usually manage the closing on your home. This service may be called “settlement.” They appoint a signing agent or real estate attorney (depending on what your state requires) to review all closing documents and finalize the deed and title transfer.
Organize Funding
Title companies may hold and manage money in escrow, with the help of an escrow agent. An escrow account is a savings account managed by a third party (in this case the title company) that distributes payouts under certain conditions.
Escrow accounts are common in real estate transactions because mortgage lenders want to make sure that you have enough money for certain expenses. For example, if your lender requires a certain number of months’ worth of expenses held in escrow, a title company will likely manage this account on behalf of both you and your lender.
All parties involved in the process of buying a house will need to send or receive funds related to the transaction. Work closely with the agent from your title company. When you need to transfer funds, they’ll help guide you to the safest and most convenient methods.
Title insurance is a regulated industry in the state of New Jersey. The State sets the rate based on the purchase price of the property. If title insurance is being purchased in connection with a refinance the rate is based on a calculation between the new loan amount and the loan being paid off. For a quote specific to your transaction please contact us.
It is not mandatory to hire a lawyer when buying a house or property in New Jersey; however, most buyers prefer to be represented by an experienced lawyer through the entire real estate transaction. Balance Title strongly recommends retaining a lawyer to review the contract, guide you through the Attorney Review period, obtain disclosures from the seller, advise you during the home inspection phase and answer many legal questions. We are happy to recommend local experienced real estate attorneys to assist you in this process.
Frequently Asked Questions
Title insurance protects lenders and buyers from financial loss due to defects in a title to a property.
The most common claims filed against a title are back taxes, liens, and conflicting wills.
A title insurance policy will cover numerous risks like flawed records, incorrect ownership, and falsified documents.
Any real estate transaction must have a clear title to ensure that the property is free from liens.
Research the Chain of Title
Title companies will research what is called the Chain of Title or the full history of the home’s ownership.
Look for Liens
We look for existing liens. A lien is a legal claim made against property that comes into play when a consumer takes out a loan or needs to repay a debt. They’ll also make sure all property taxes are paid in full.
Perform a Property Survey
Balance Title will conduct a Property Survey. This is required to close on a home in most states, surveys ensure that the home occupies only the space indicated on the title.
Provides a Title Abstract
the company provides a report called a title abstract You and your lender will get a copy to review before you close on your home. The abstract is not your title insurance policy. That’s a separate document you’ll get from your agent (Balance Title?).
Provides Title Insurance
Title companies provide two kinds of title insurance policies: one for you (the buyer) and one for your lender. Because your lender has a financial interest in the property, title insurance protects them the same as it does you. If someone comes forth with a claim for the property that was missed in the title search, they are protected financially and legally. Generally, the seller of the home you’re buying pays for your title insurance policy, and you pay for your lender’s policy. But, unlike most insurance policies that require you to pay a yearly or monthly premium to keep your coverage, you only have to pay title insurance once when you close on the property. You’re then covered for as long as you own the home.
Establish Who Holds the Title
It’s important to work with your title company to make sure that the wording on your title accurately describes who has the right to transfer ownership. Your title phrasing may also affect how you pay property taxes and fees if you sell your home in the future.
Manage the Closing
Title companies usually manage the closing on your home. This service may be called “settlement.” They appoint a signing agent or real estate attorney (depending on what your state requires) to review all closing documents and finalize the deed and title transfer.
Organize Funding
Title companies may hold and manage money in escrow, with the help of an escrow agent. An escrow account is a savings account managed by a third party (in this case the title company) that distributes payouts under certain conditions.
Escrow accounts are common in real estate transactions because mortgage lenders want to make sure that you have enough money for certain expenses. For example, if your lender requires a certain number of months’ worth of expenses held in escrow, a title company will likely manage this account on behalf of both you and your lender.
All parties involved in the process of buying a house will need to send or receive funds related to the transaction. Work closely with the agent from your title company. When you need to transfer funds, they’ll help guide you to the safest and most convenient methods.
Title Insurance is a regulated industry in the state of New Jersey. The State sets the rate based on the purchase price of the property. If title insurance is being purchased in connection with a refinance the rate is based on a calculation between the new loan amount and the loan being paid off. For a quote specific to your transaction please contact us
It is not mandatory to hire a lawyer when buying a house or property in New Jersey; however, most buyers prefer to be represented by an experienced lawyer through the entire real estate transaction. Balance Title strongly recommends retaining a lawyer to review the contract, guide you through the Attorney Review period, obtain disclosures from the seller, advise you during the home inspection phase and answer many legal questions. We are happy to recommend local experienced real estate attorneys to assist you in this process.