Escrow Services

Purchasing a property can sometimes be a complicated process, that many people do not fully understand their first time around. During this process, purchasers will eventually be in escrow, which is the time between the seller accepting the offer for their property and the buyer getting the keys for that property. Many small but significant procedures occur during the escrow phase of a transaction, including opening an escrow account in which deposits and other payments can be held, awaiting a property appraisal from a mortgage lender, and property buyers securing financing.

During this process, Hemisphere Title will provide a Title Report to make sure that the title of the property is clear, meaning that there are no liens on the property and only the seller has a current claim to the title. This Title Report will be required by the lender, and it, along with title insurance, are meant to protect you and the lender from potential legal challenges that could arise in the future if issues did not come up during the title search. If any issues were to arise during a title search, the seller would need to remedy the issues in order for the sale to proceed, or they would risk you, the purchaser, walking away from the transaction.