In this Legacy Series episode of The RED Podcast, Ferd Niemann takes us through Title Commitment and Surveys 101.
Hosted by Jonathan Gilmore.

HIGHLIGHTS:

0:00 – Intro
1:02 – There are many title companies out there, it’s not necessarily important which one you use
2:05 – The first page is the Schedule A, this includes the date they did the survey on
2:56 – Schedule A will tell you what type of policy and the policy amount
4:20 – Next on Schedule A comes the proposed insured
4:50 – Next Schedule A talks about the interest
5:08 – Schedule A says who the title is currently vested in, followed by the land described
5:56 – Schedule B notes the requirements and exceptions
6:29 – You must be notified if someone else has an interest in the property
7:00 – Schedule B will have an affidavit which is basically to say that certain things don’t exist
8:22 – Schedule B will have some information about the documents of the title company required
9:10 – Schedule B part 2 is the exceptions, Ferd cares about the easements the most and they’re usually slower
13:05 – You need to work out what exceptions there are and fix them or work around them.
14:15 – This is when your objections come in
14:57 – If you have a lender involved, you’re going to need a loan policy
16:19 – You can get a closing protection letter
19:43 – The final step is the closing statement