What is Title Insurance
 
A title is not the property itself, but the right to occupy and use the property. Title insurance protects the buyer, owner, and lender from any defects in the title.  Specifically, we insure the following: 
 
The owner is insured for the following: 
  • The owner has a "clean" title - we know who else has an interest in the property
  • Only liens or judgments revealed in public records exist
  • Owner has access to property either via public road or a recorded easement to a public road
  • The title is marketable
The lender is insured for the following: 
  • Buyer has a good title
  • They have a good lien on the property
  • They can sell the mortgage to the secondary market
All lenders require title insurance for the value of the mortgage. 

To make sure that you have a "clean" title, we research public records in the Court House and Justice Building for the following: 

  • Get copies of the latest deed containing any restrictions or easements
  • Get copies of affidavits, easements, contracts, powers of attorney, or any other documents that affect the ownership of the property
  • Get copies of mortgages, UCC liens, or mechanic's liens against the property
  • Determine the current property taxes and whether they have been paid
  • Determine if any judgments, personal property liens, federal tax liens, or state tax warrants apply to either the owner or buyer
We examine these documents, along with a property survey, and prepare a commitment to insure your interest in the property. Along the way we resolve any problems that may arise. After the closing, we issue a FINAL POLICY completing the process. 

Here are some helpful tips: 

  • We give discounts for other title company's prior policies.
  • We can retrieve recorded documents for buyers and sellers at no charge.
  • Get to know your closer. Give us a call and talk to Barbara or Jane.
  • If you are the Seller, you can specify the title company in the offer to purchase.
  • If you are the Buyer, you can specify the title company in the offer to purchase.
  • If you are a Realtor, having a favorite title company helps when you have a rush closing.
  • If you are a Lender, we can provide your title work as fast or faster whether it is our prior policy or not.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Lender's Checklist
 

 
MoCoTiCo - The Title Company, Inc. will close your loan any time, any place.
You can depend on us. We are approved to perform closings for over 200 financial institutions throughout the country. We are here to prepare your commitments and perform insured closings in a timely fashion. To that end, we encourage you to use our QUICKSTART program so that we can get started with your transaction even before the loan is approved. If the loan is rejected, we charge no cancellation fee. We do ask, however, that you use your best judgment regarding the likelihood that loans will be approved.
   
For approved loans, the following steps will help you get started:
  • Prepare a copy of the accepted offer to purchase and any counter offers.
  • Get a copy of the current owner's title insurance policy and survey, if available.
  • Fill out our online order form.       Click here to order title work
  • Fax or deliver the Offer to Purchase and Title Insurance Policy to MoCoTiCo - The Title Company, Inc. at 118 North Walnut Street (Sperry Building) in Bloomington (see our home page for fax numbers).
  • Be sure to let us know when you would like to close.
We will contact you to verify your order and request any additional materials required.  

Here are some helpful tips: 

  • We give discounts for other title company's prior policies.
  • Get to know our closers. Give us a call and talk to Jane or Barb.
  • Let us know your preferred closing agent.
  • We can retrieve recorded documents for buyers and sellers at no charge.
  • We can provide your title work is fast or faster whether it is our prior policy or not.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Realtor's Checklist
 
We are here to make your life easier. We will take care of any problems associated with the preparation of the commitment and closing so that you can sell property.
 
The following steps will help you get started:
  • Prepare a copy of the accepted offer to purchase and any counter offers.
  • Get a copy of the current owner's title insurance policy and survey, if available.
  • Determine the buyer's lender and the amount of the mortgage (if known).
  • Fill out our online order form.              Click here to order title work
  • Fax or deliver the Offer to Purchase and Title Insurance Policy to MoCoTiCo - The Title Company, Inc. at 118 North Walnut Street (Sperry Building) in Bloomington (see our home page for fax numbers).
  • Be sure to let us know when you would like to close.
We will contact you to verify your order and request any additional materials required.  

Here are some helpful tips: 

  • We give discounts for other title company's prior policies.
  • Get to know our closers. Give us a call and talk to Jane, Susan, or Anne-Karine.
  • We can retrieve recorded documents for buyers and sellers at no charge.
  • Your Sellers can specify the title company in the offer to purchase.
  • Having a favorite title company helps when you have a rush closing.
  • We can provide your title work as fast or faster whether it is our prior policy or not.

    •  
     
Home | Title Order | New Listing | Prorate Taxes | Seller's Proceeds | Borrower's Costs | Refinance Proceeds | Title Insurance | Lender's Checklist | Owner's and Buyer's Checklist | E-Mail

 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Owner's and Buyer's Checklist (If you are not using a Realtor)
 

The owner/seller has the right to determine the title company to be used. However, the buyer may specify, in the offer to purchase, the title company of choice. We recommend MoCoTiCo - The Title Company, Inc. to provide your title insurance and perform your closing.


  The following steps will help you get started:
  • Prepare a copy of the accepted offer to purchase and any counter offers.
  • Get a copy of the current owner's title insurance policy and survey, if available.
  • Determine the buyer's lender and the amount of the mortgage (if known).
  • Fill out our online order form.       Click here to order title work
  • Fax or deliver the Offer to Purchase and Title Insurance Policy to MoCoTiCo - The Title Company, Inc. at 118 North Walnut Street (Sperry Building) in Bloomington (see our home page for fax numbers).
We will receive your order and contact you by telephone to confirm and/or gather more information.  

Here are some helpful tips: 

  • We give discounts for other title company's prior policies.
  • Get to know your closer. Give us a call and talk to Jane or Barb.
  • We can retrieve recorded documents for buyers and sellers at no charge.
  • If you are the Seller, you can specify the title company in the offer to purchase.
  • Talk to your lender, find out if they have a preferred closing agent.

    •  
    MoCoTiCo - The Title Company, Inc. will close your transaction any time, any place.
     
Home | Title Order | Seller's Proceeds | Borrower's Costs | Refinance Proceeds | Prorate Taxes | New Listing | Title Insurance | Realtor's Checklist | Lender's Checklist | E-Mail
 
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