It’s easy!, Contact TSG TITLE, at 804-874-9971. This is only an introduction to title insurance. The exact terms and conditions of coverage are provided in your policy.Item description

Title insurance is different from other types of insurance in that it protects you, the insured, from loss that may occur from matters or defects from the past. Other types of insurance such as auto insurance, life insurance or health insurance, cover you against losses that may occur in the future. Title insurance does not protect against a defect that may originate at a later date.

Title insurance rates are set and regulated by the State of Virginia, Bureau of Insurance. You only pay the premium once. The cost depends upon the purchase price of the property (owner’s policy), and the loan amount (lender’s policy). Quotes available upon request.

Construction of a new home raises special title problems for the lender and owner. You may think you are the first owner when constructing a home on a purchased lot. However, there were most likely many prior owners of the unimproved land. A title search will uncover any existing liens and a survey will determine the boundaries of the property being purchased. In addition, a builder may have failed to pay subcontractors and suppliers. This could result in the subcontractor or supplier placing a lien on your property. Again, lenders want to be sure the property has clear title, and they are insuring the correct property. Purchasing an Owner’s Policy will protect you against these potential problems and pay for any legal fees involved in defending a claim.

Escrow is the holding of assests by a third party until certain conditions are met. In real estate, an escrow company holds the seller’s deed and the purchaser’s money until all terms of the sale are completed.

However, TSG Title does much more than simply hold the deed and purchase money. Our reponsibilities include making certain the title is insurable, as well as recording the deed and other necessary documents with the courts. We are affiliated with Preferred Settlement can will also pay various Settlement expenses such as the agent’s sales commission, appraisal fee, transfer fee, and the seller’s mortgage balance, as well as other tasks.