Frequently Asked Questions
A: In recognition that realtors in the Birmingham area are accustomed
to attorneys performing their closings, all closings conducted by the TitleSouth
Real Estate Closing Center will be performed by an attorney, unless you agree that
the closing can be performed by one of the Closing Center's experienced Closing
Administrators. Many clients tell us that our Closing Coordinators are more entertaining
than our lawyers!
A: The TitleSouth Real Estate Closing Center is not a law office, and
its employees may not prepare legal documents or give legal advice. However, the
same attorney responsible for drafting the note, mortgage and deed generally can
draft any necessary additional legal documents. The cost of preparing these documents
will be determined by the attorney, and payment for those services will be paid
directly to the attorney at or before closing. If you want to use another attorney
to draft additional required legal documents, those documents should be provided
to the Closing Center and to TitleSouth's underwriters prior to execution to ensure
that they meet the title company's requirements to clear the particular exception
to which they apply.
A: We can come to your office to do a closing when our schedule permits
- generally during early and mid-month, we should be able to accommodate such a
request. There are certain times of the month when, due to volume and scheduling
(such as the 15th of the month, the second Friday of the month, and the last few
days of the month), this service is not available..
A: Under most circumstances, we can arrange this, but we ask that you
give us as much advance notice as possible whenever a buyer or seller cannot attend
A: Unfortunately, in todays environment, we require that purchasers funds
to close be ____ by bank transfer or Federal Funds wire for the protection of all
parties involved in the transaction. We will accept personal checks for small sums
due to last minute changes to the closing costs. Contact the Closing Center for
A: Title insurance is an insurance policy that protects you against
loss that could result from defects in the title of the property you are buying.
The premium is paid only once and is good until the property’s ownership changes.
Unlike most types of insurance which protect policyholders from future events, title
insurance protects you against defects that could already exist.
A: Any number of problems that remain undisclosed after even the most
meticulous search of public records can make a title defective. These hidden "defects"
are dangerous indeed because you may not learn of them for many months or years.
Yet they could force you to spend substantial sums on a legal defense, and still
result in the loss of your property.
A: The one-time premium is directly related to the value of your home.
Typically, it is less expensive than your annual auto insurance. It is a one-time
only expense, paid when you purchase your home. Yet it continues to provide complete
coverage for as long as you or your heirs own the property.
A: Not necessarily. There are two types of Title Insurance. Your lender
likely will require that you purchase a Lender's Policy. This policy only insures
that the financial institution has a valid, enforceable lien on the property. Most
lenders require this type of insurance, and typically require the borrower to pay
An Owner's Policy on the other hand is designed to protect you from title defects
that existed prior to the issue date of your policy. Title troubles, such as improper
estate proceedings or pending legal action, could put your equity at serious risk.
If a valid claim is filed, in addition to financial loss up to the face amount of
the policy, your owner's title policy covers the full cost of any legal defense
of your title
A: If you have a title commitment from a title company other than TitleSouth,
call us. We generally are able to close on title commitments issued by title companies
other than TitleSouth