New Home Buyers Title and Settlement
Buying a new home is an exciting journey. First American Title is with you to coordinate your purchase with your builder and your lender.
In addition to the settlement and signing services, First American Title provides title insurance to insure the ownership rights securing your mortgage. An optional owners policy of title insurance can help protect you from a number of related risks like unknown liens, forgeries, boundary disputes and other issues that can affect your ownership as long as you have an interest in the property. Be sure to ask your settlement professional about an owners policy of title insurance.
The New Home Buying Process through First American
Here's what you can expect along the way.
- Buyer views builder's homes/models and enters into contract along with an initial deposit
- Opening package is sent to buyer with information on the escrow process and what to expect
- Closing Disclosure is prepared by the lender and delivered to buyer 3 days prior to loan consummation (day the buyer signs the note)
- Closing documents are sent from lender to First American Title Homebuilder Services Division
- The signing appointment will be set, then buyer consummates loan and deposits funds to First American Title Homebuilder Services Division
- First American Title Homebuilder Services Division verifies all conditions are met from lender, seller, and buyer
- The final settlement statement is issued once documents are recorded
- Funds are disbursed and final documents are sent to the parties involved
- Your First American Title representative or your builder contact will give you the keys to the upon completion of your closing
- First American Title Homebuilder Services Division issues insurance policies to all parties
Will You Be Protected?
Be sure to ask your settlement professional about an owner's policy of title insurance.Learn About Title Insurance
Beware of Wire Fraud
When you buy a home, you'll be required to submit personal information to your builder, lender and/or settlement or escrow agent. This information may include social security numbers, bank account numbers and credit and loan account numbers. Unfortunately, would-be fraudsters sometimes attempt to steal personal information and even money through real estate transactions.Protect Your Transaction
Featured Products and Services
Title Insurance for New Homes
Title insurance protection from First American Title provides home buyers, lenders and developers with vital protection against losses from a variety of title issues. With coverage for lenders and owners, you can count on First American Title to protect your investment.Learn More
Escrow and Closing Services for New Homes
Whether you are closing on a land purchase, construction loan or your individual lot sales, First American is prepared to handle all of your escrow and closing needs.Learn More
Frequently Asked Questions (FAQs)
Why do I need Title Insurance?
Title insurance provides coverage for certain losses due to defects in the title, that for the most part, occurred prior to your ownership. Having title insurance will protect you, the buyer against any risks caused by defects such as prior fraud or forgery that might go undetected until after closing and possibly jeopardize your ownership and investment.
How do I wire my funds?
Your escrow officer or settlement agent will provide you with wiring instructions. Note that our wiring instructions never change. If you are signed up for Secure Portal you will be able to view your wiring instructions at your convenience. Always confirm wiring instructions with your escrow officer/settlement agent prior to wiring.
Will the notary come to me?
When scheduling your signing appointment let your escrow officer/settlement agent know if you prefer to have a notary come directly to you. We can arrange a travel notary for your signing however you are if signing in our offices, we will waive the signing fee.