Services - Hazelwood Title Co.
At Hazelwood Title Co, we pride ourselves on being a comprehensive title and closing agency with extensive experience accumulated over several decades in the title industry. With our team of top-notch closers, Hazelwood Title Co. ensures unmatched service from the moment your initial title order is placed, right through to that final signature on closing day. You can unequivocally rely on Hazelwood Title Co. for exceptional service throughout the entirety of your title and closing process.
TITLE SERVICES
At Hazelwood Title Co. we’re a full-service title and closing company that’s committed to providing you with accurate, timely, and comprehensive title services so that you can close with confidence.
Title services are essential components of real estate transactions, ensuring that properties are legally transferred from one party to another without any complications. They involve the process of researching a property's history to confirm the seller's right to transfer ownership and identifying any claims or liens that could affect the transfer. This process is crucial as it ensures that the buyer will gain clear ownership without any encumbrances. The title service provider offers a comprehensive review of public records and legal documents related to the property, such as deeds, court records, property and name indexes, and many more.
Upon completion of the title search, the title service company issues a title commitment or preliminary report outlining the conditions under which it will issue a title insurance policy. Title insurance policies are issued to both homeowners and lenders and serve to protect against financial losses that might occur due to any discrepancies or defects in the title that were not uncovered during the initial title search. If any title issues are discovered after the purchase, the insurance will provide legal defense against any lawsuits challenging the new property owner's title and compensate for the financial losses up to the coverage limit. Thus, title services not only facilitate smoother transactions but also offer critical protections for all parties involved.
Title Search
Using our extensive network, our title investigators conduct an exhaustive and meticulous review and examination of records, encompassing aspects such as mortgages, deeds, tax liens, encroachments, and other possible claims on a property. We also carry out a name search and bankruptcy search as part of our title search process, allowing us to identify any additional potential claims. Our capabilities extend to executing both prior owner title searches and 30-year title searches.
The objective of executing a title search and examination is to pinpoint any potential complications or risks that might affect your title or property ownership rights. It is crucial that a title search is conducted before any kind of title insurance can be issued.
Title Commitment
A title commitment, also known as a title binder or preliminary title report, is a crucial document in the process of closing on a real estate transaction. It represents the title company's pledge to issue a title insurance policy for the property after closing, protecting both the buyer and the lender from any future claims or legal issues that could potentially challenge the legality of the new ownership. This document is prepared after a thorough title search and examination has been conducted on the property to identify any existing liens, encumbrances, or other issues that could affect ownership.
The title commitment contains several key pieces of information including the prospective insured parties (usually the buyer and the lender), the amount of insurance coverage, the property's legal description, and any requirements or stipulations that need to be addressed before the title insurance policy can be issued. These stipulations could range from settling unpaid property taxes to resolving boundary disputes or eliminating other discovered encumbrances. Once all the listed requirements are satisfied, the title insurance policy can then be issued, giving the new owners and the lender a high level of protection against future claims on the property.
Title Insurance
Title insurance is a unique form of indemnity insurance that safeguards the holder from financial loss tied to defects in a title to a property. The two types of title insurance policies include the owner's title insurance, which protects the property owner, and the lender's title insurance, which shields the mortgage lender. These policies are typically purchased during the closing process of a real estate transaction. A one-time premium is paid, and the coverage continues until the insured party sells the property or pays off the mortgage.
Title insurance protects against a variety of potential legal issues that might arise in relation to the title of the property. These could include ownership disputes, forgeries, undisclosed heirs, liens, or encroachments. It's important to note that while most forms of insurance protect against future events, title insurance primarily provides protection from past events that may not have been discovered during the title search process. Thus, it plays an integral role in mitigating the risks associated with purchasing and owning real estate, providing peace of mind to both buyers and lenders.
In Alabama, two types of title insurance policies are offered: Standard and Enhanced. The Standard policy primarily covers the essential aspects such as undisclosed heirs, errors in recording, or forged documents, ensuring the fundamental protection against potential past title defects. On the other hand, the Enhanced policy provides more comprehensive coverage. Besides everything covered under the Standard policy, the Enhanced policy may also protect against issues like zoning and subdivision law violations, building permit violations, or certain post- policy risks such as forgery, encroachment, or damage from mineral extraction. The choice between these two policies will largely depend on the specific needs and risk tolerance of the property owner or buyer.
Notary and Closing Services
Using our extensive network at Hazelwood Title, we can insure any transaction, commercial or residential, regardless of size, complexity, or geographic location, within the 67 counties in the state of Alabama. For your convenience, our services can be requested through our online ordering form, email, or phone.
Regardless of the type of closing services you require, we're committed to delivering an exceptional closing experience to all parties involved - lenders, real estate agents, buyers, and sellers alike. Our proficient closing experts are equipped with the necessary knowledge to ensure the precision, timeliness, and compliance of your file according to your contract terms consistently.
Choosing to close with Hazelwood Title means you're guaranteed unparalleled customer service. Acting as your dedicated real estate liaison, we collaborate with real estate agents and clients to cater to unique closing needs, respond to queries, and offer educational resources. We can provide closing services for all real estate transactions, including:
- Residential
- Commercial
- Vacation Home
- Investment Properties
- Contract Preparation
- Refinances
- 1031 Exchanges
- Foreclosure Services
- For Sale By Owner
- Rural Property
- Acreage
Closing Package Prep
Our proficient closers possess the necessary expertise and acumen to manage every detail of
even the most complex closings.
They can provide assistance with a variety of closing-related tasks, such as:
- Resolving title issues
- Preparing the Title Commitment
- Disbursing Funds
- Generating settlement statements
- Placing mortgage payoff orders
- Procuring HOA Letters
- Document Prep
- Coordinate with Lenders
- Recording the Deed and Mortgage
- Securing city or municipal letters, inclusive of sewer letters, fire dues, water dues, and library dues
- Acquiring Termite Letters
- Managing tax payoffs
Closing Options
At Hazelwood Title Co, we understand that every client's needs are unique, and so we offer a range of flexible closing options to cater to those varying needs. Recognizing the importance of convenience in today's fast-paced world, we provide alternatives such as mail-away closings, allowing you to finalize your transaction from wherever you might be through using our extensive notary network. For a more tech-savvy approach, we offer electronic signing, enabling the seamless and efficient completion of paperwork digitally. We also understand that time is crucial, and so we offer flexible scheduling to work around your commitments. Additionally, for those who can't make it in person, we provide remote closings, enabling you to complete the closing process no matter where you are. With Hazelwood Title Co, the closing process is tailored to your convenience and preference.
Escrow Services
We offer escrow services tailored to the needs of your closing process. Our firm can serve as a trusted escrow holder in various scenarios, including:
- Holding earnest money on behalf of our clients
- Securing funds allocated for contractual work to be executed after the closing, thereby guaranteeing these tasks adhere to the terms outlined in the contract.
- Managing funds for estate purchases, providing a timeframe for any potential claims against the estate to be filed