530 South, 2nd Street - Abbotts Square - Suite 109-A-Philadelphia, PA 19147
Telephone (215)-642-0701 - Fax: (215)-642-0690 - Toll free: 800-642-0690
SetlementExperts@gmail.com / www.SettlementServiceExperts.com
Settlement Service Experts LLC is a title company providing settlement services and title insurance in the State of Pennsylvania and New Jersey. The company provides title insurance, and related services for land, residential and commercial acquisitions. Its staff prides itself on the service provided to buyers. Our staff comes to you for settlement and is always prepared to make your experience a stress free one, since they have had a long experience and expertise to insure that our buyers are properly protected.
You have the right to select the settlement agent, and title insurance provider of your choice. Once the title order is placed with the us, a title abstract is ordered as well as a location survey where required. Settlement Service Experts coordinates between the borrower/purchaser, the lender and realtor or builders involved in the transaction. We obtain mortgage payoff amounts as well as all pertinent tax, water and Homeowners Association figures, and prepare the title insurance commitment, the Deed, settlement sheet and in many cases loan documents. We conduct the closing, collect and disburse all funds to the appropriate parties, record all necessary documents including deeds, mortgages and mortgage releases in the appropriate jurisdictions. Once all documents have been recorded in the County, a final title policy is issued.
What is Title Insurance?
Title Insurance is apolicy issued to lenders and buyers to protect any losses because of a dispute over the ownership of a piece of property. It insures that the person/entity selling you a property is the rightful owner and that all mortgages, judgments and assessments against that owner and/or that property are properly disclosed and disposed of prior to your money being sent for that property. There are many reasons why home buyers need Title Insurance .
How does it work?
At the time of signing the Agreement of Sale, the buyer has the choice to determine which company that they would like to insure their purchase. After that choice, the property search is ordered and the process begins. The subject property is searched in the County seat where the property is located. The searcher accesses the records for that property for at least the last 60 years. All Deeds, Mortgages, Assignments of Mortgages, etc are assembled with related documents such as tax records, water/sewer records, etc and that information, the title brief, is forwarded to the title examiner.
The title examiner reviews the brief and indicates those items that are important to the transaction about to be insured. Those items are then assembled and a title commitment is issued. This title commitment acts as a manual of how the settlement should transpire; that is, those items that must be addressed and information obtained so that at the time of settlement, those conditions or requirements can be cleared. The smoothness of the settlement depends on close interaction with the buyers and sellers’ real estate agents and their attorneys, lenders and various other municipal providers. Prior to settlement, you should be aware of the title company’s expectations of you and for you; and as required by RESPA, you are entitled to a completed HUD 1 Settlement Sheet 24 hours prior to settlement.
At the time of settlement, you will be confident and prepared if your title company has received all of this cooperation from all of the interested parties. Title companies, as well as the title agent, are licensed through the state where they operate and write insurance. All title companies have national underwriters to insure that they are operating effectively for their clients. In addition, each state provides guidelines for title company operations and all fees for title services are standardized and regulated by the Department of Insurance in each state where the title company operates.
Important notice: You are free to use the mortgage and title provider of your choice, including providers not on this page. Know your rights when shopping for mortgage and settlement services, including title insurance, provided by the U.S. Department of Health and Urban Development
Please see our Consumer Disclosure .
Additional information provided by the U.S. Department of Housing and Urban Development:
Frequently Asked Questions regarding your protections under the Real Estate Settlement and Procedures Act 9 (RESPA)
Buying a Home