Monday - Friday9AM - 5PM
Office6 N. East Street, Ste 101, Frederick MD 21701

FAQ

We’ve put together a list of most frequently asked questions.
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Frequently
Asked Questions

A home is the single largest investment most of us will make in our lives. To buy with confidence, get owner’s title insurance. It’s the smart way to protect your property from legal and financial claims. To help you understand how it works, here are answers to common questions:
What is Escrow?

Escrow is the process in which the funds of a transaction, like the sale of a house, are held by a third party. Our in-house escrow team handles this process for you and walks you through every step, answering any questions you have along the way. Escrow professionals are neutral during this process, ensuring a fair and honest process.

What is Title?

A title is your ownership right to your property.

What is a Title Search?

A title search is a standard part of the home buying process that is conducted to uncover issues that could prevent your right to the property. Your closing agent reviews public records to see if there are problems or defects that could cause you legal issues

What is Title Insurance?

If you’re buying a home, title insurance is a policy that protects your investment and property rights. There are two different types of title insurance: owner’s policy and lender’s policy.

Type 1: An owner’s policy protects your property rights for as long as you own the home.
Type 2: A lender’s policy is usually required by the lender and protects only the lender’s financial interests. The buyer typically pays for this policy, but this varies depending on geography. We recommend you ask an ALTA member how it’s handled in your area.

Why Should I Purchase Owner’s Title Insurance?

Purchasing owner’s title insurance is a smart decision because it’s the best way to protect your property from future legal claims.

What Does Owner’s Title Insurance Cost?

The one-time payment for owner’s title insurance is low relative to the value of your home. The typical owner’s title insurance policy costs around 0.5% of the home’s purchase price.

How Long Am I Covered?

Your owner’s insurance policy lasts as long as you own your property. Your life will change over time, but your peace of mind never will.

What Happens At Settlement?

You sign the legal documents and receive the keys to your home.

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Friends Title & Escrow's company is dedicated to bringing excellence to every transaction.
LICENSEDWV, VA, FL, PA, MD
Friends Title and Escrow provides service all over the state of West Virginia, Virginia, Florida, Pennsylvania & Maryland
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We have offices in Downtown Frederick MD and in Downtown Shepherdstown WV.
217 South Duke St. Shepherdstown, WV 25443
6 N. East Street, Ste. 101 Frederick, MD 21701
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