For most people, the purchase or sale of a residence is one of the
most significant transactions in which he or she will become involved.
Representation of a party to a real estate transaction requires
precision and attention to detail. Documents such as Deeds and Mortgages
become part of the permanent, official county land records in the
Recorder of Deeds Office.
Real estate transactions involve a number of adjustments at the time
of closing for items such as mortgage payoffs, current year's real
estate taxes, realty transfer taxes, charges imposed by the lender, and
various other items. Calculations of such items must be done in an
accurate and knowledgeable manner.
Almost all lenders now require title insurance in real estate
transactions. A title insurance policy insures that the title to a
property is good and marketable, and that the new mortgage is the first
lien on the property. Our firm is agent for several title insurance
companies. The premium rates for title insurance are regulated by the
Pennsylvania Insurance Department. The premium for a title insurance
policy is based upon the amount of the purchase price and/or the amount
of the
mortgage.
