Page 2 - Homeowners Manual - Santa Cruz County

Table of Contents

Contents
Table of Contents i
Contact Information ii
OLD REPUBLIC TITLE 1
Why Old Republic Title? 1
Services We Provide 3
Financial Ratings 4
ESCROW 5
What is Escrow? 5
How Does Escrow Work? 6
Escrow Process 7
‘Know Before You Owe’ Mortgage Disclosure Terms 8
Buyer’s Checklist 9
Seller’s Checklist 11
Top 10 Things Consumers Should Know About the Closing Process 13
Showstoppers 16
Beware of Wire Fraud 17
Mimecast Secure Messaging 18
PRELIMINARY REPORT 20
Preliminary Reports — Some Basics 20
TITLE INSURANCE 23
What is Title Insurance and How Does It Work? 23
33 Covered Risks for the Homeowner’s Policy 25
Comparison of Title Coverage 28
Frequently Asked Questions About Title Insurance 29
Common Ways of Holding Title 31
California Concurrent Co-ownership Interests 33
CLOSING COSTS 34
Examples of Additional Closing Costs 34
Common Property Taxes 35
Property Tax Calendar 37
FIRPTA Withholding Rule 38
REAL ESTATE DICTIONARY 41