• Skip to main navigation
  • Skip to content
  • Skip to footer

Search Homes

Contact Us

cell: 610-213-8458 | office: 610-352-8484
cnaps@cremainline.com

CRE Main Line

  • Main Line Areas
    • Ardmore
      • Ardmore Homes For Sale
    • Bala Cynwyd
      • Bala Cynwyd Homes For Sale
    • Berwyn
      • Berwyn Homes For Sale
    • Bryn Mawr
      • Bryn Mawr Homes For Sale
    • Devon
      • Devon Homes For Sale
    • Gladwyne
      • Gladwyne Homes For Sale
    • Haverford
      • Haverford Homes For Sale
    • Malvern
      • Malvern Homes For Sale
    • Merion Station
      • Merion Station Homes For Sale
    • Narberth
      • Narberth Homes For Sale
    • Newtown Square
      • Newtown Square Homes For Sale
    • Paoli
      • Paoli Homes For Sale
    • Penn Valley
      • Penn Valley Homes for Sale
    • Philadelphia
      • Philadelphia Homes For Sale
    • Radnor
      • Radnor Homes For Sale
    • Rosemont
      • Rosemont Homes For Sale
    • St. Davids
      • St. Davids Homes For Sale
    • Valley Forge
      • Valley Forge Homes For Sale
    • Villanova
    • Wayne
      • Wayne Homes For Sale
    • West Chester
      • West Chester Homes For Sale
    • Wynnewood
      • Wynnewood Homes For Sale
  • Buy
    • Homes For Sale
    • New Construction
    • Why Buy With Us?
    • Find My Perfect Home
    • Mortgage Calculator
    • Home Buying Tips
  • Sell
    • Get Your Home Value
    • Why List With Us?
    • Recently Sold
    • Selling Tips
  • Home Loans
    • Coming Soon!
  • Title Insurance
    • What Is Title Insurance?
    • How To Obtain A Policy
    • Why Choose Us?
    • Rate Calculator
    • The Closing Process
  • About/Contact
    • About CRE
    • Client Reviews
    • Concierge
      • Home Repairs
      • Moving Services
      • Packing Services
      • Painting Services
    • Contact Us
    • Marketing Your Home
    • Privacy Policy
  • Blog
  • Login
    • Signup
SearchClose

How To Obtain A Policy

Title insurance policies are available for a one-time premium payment at the time the property is purchased and/or financed. The premium is based on the purchase price/loan amount and is typically collected at closing with all other funds for the transaction. There is no annual premium for title insurance. Purchasers may obtain an owner’s policy of title insurance and mortgage lenders may obtain a loan policy of title insurance to protect their respective interests.

Most mortgage lenders require the borrower to purchase a loan policy of title insurance on behalf of the lender. The loan policy of title insurance only provides protection for the lender’s interest in the property. It does not provide any protection for the purchaser’s interest in the property. The purchaser must obtain their own policy. The additional cost of obtaining an owner’s policy in addition to a loan policy depends on the difference between the loan amount and purchase price. In most cases, it is a very small incremental additional charge. Prudent purchasers will always opt for an owner’s policy at the time of closing. The incremental additional cost far outweighs the additional costs that can arise in the future if an owner’s policy of title insurance is not purchased and a defect becomes known after ownership of the property is acquired. The owner will be left to defend their title and settle the dispute without the benefit of a title insurance company and will likely incur significant legal fees in doing so. In a worst case scenario, the property can be lost if there is a complete failure of title.

Our title agent will conduct a thorough search and examination of the title to the property prior to closing in an effort to discover potential defects, liens or encumbrances. A title insurance commitment will then be prepared showing all defects, liens and encumbrances discovered during the search and exam. The commitment will specify requirements that need to be met including liens that need to be paid. It will also list specific exceptions that will not be covered by the policy including easements and restrictions that are of public record. We will work to clear all known liens and defects and conduct a closing. Instruments (Deeds, Mortgages) will be executed at closing to transfer the title and funds will be collected to pay open liens, taxes, etc. The title insurance premium will also be collected at closing. Our agent will ensure the instruments are duly recorded at the local courthouse then issue the title insurance policies that were paid for at closing.

About CRE Main Line

CRE Main Line is a concierge real estate company that provides home sellers and buyers with all services related to the purchase or sale of real estate.  We have been helping real estate buyers and sellers since 1967, and we have a sales volume in the hundreds of millions of dollars.

 

You receive a full concierge service from us that will allow you to have one point of contact. This includes our licensed Pennsylvania realtors to help you with the buying or selling of your home, title insurance, home loans with our mortgage broker, repairs from our contractors, packing services, and moving services. Our facilitation of the home buying and selling process will be free from stress. Of course, you don’t have to choose any of our optional services. We offer those services to make your life easier.

 

 

 

 

Contact Us

CRE Main Line
Cell: 610-213-8458
Office: 610-352-8484
cnaps@cremainline.com
237 Long Lane, Upper Darby, PA 19082
© 2022 · Privacy Policy · Equity Framework


© 2022 · Equity Framework