FAQ

What is Title Insurance?

Like other kinds of insurance policies, title insurance provides protections to the insured for certain events or issues. Unlike other kinds of insurances, title insurance protects against events occurring in the past. A title insurance policy is a great way to get a peace of mind in knowing that your family’s home is protected from various issues, such as forgeries and fraud, omitted heirs, hidden rights of way, or boundary issues. Also unlike other insurance policies, there is only a ONE-TIME premium to pay, and you are afforded protection up to the amount of your home. Premiums are set by the State of Louisiana and no title company has the authority to change them. Be sure that you get an Owner’s title insurance policy to become the ‘insured.’ In most financed transactions, you will buy a Lender’s policy, which only protects the lender. Click here to learn more.

What do I need to bring to closing?

Make sure that you bring at least one valid form of identification displaying your full legal name. You will also need a cashier’s check or other source of verified funds made payable to the title company based on the settlement statement. If you, or your spouse, is unable to attend the closing, please let us know so that we can have the proper documents executed prior to the closing date. Other than that, all we ask is that you bring a smile!

Are my children welcome to come to the closing?

Of course! Here at Ironclad Title, we believe in strong family values and we welcome children to visit with us during the process, especially ones who are old enough to understand the significance of buying a new home. Our staff might have some fun activities available for your children while we are signing papers, all you need to do is ask!

Where do I file for Homestead Exemption?

Louisiana law allows a homeowner to exempt up to $75,000 of the value of their primary residence from property taxes. To do this, you will need to take a copy of your Deed to the local Tax Assessor’s office and fill out the exemption forms. For a listing of Tax Assessor’s offices in Southwest Louisiana, please click here.

What are “closing costs”?

Closing costs are the charges for work performed to properly close your transaction. These costs might include: lender’s fees, title searches, title examinations, document preparations and recording charges. These costs do not include the additional money needed for homeowner’s insurance, inspections, termite treatments, etc. To request a detailed list of Ironclad Title’s fees, please contact us.

Do I need a Realtor®?

Ironclad Title certainly recommends using a licensed real estate professional throughout the process. A good Realtor® is a valuable resource to help make the process much simpler. A good place to start when looking for a Realtor® is asking your friends and family for a referral. If you are new to the area, or have questions about some local Realtors®, please contact us.

Can I help to make my closing move faster?

Yes, you certainly can. Besides working with a licensed Realtor®, the home buyer can also help move the transaction along by working with a local lender. Effective October 3, 2015, the Consumer Financial Protection Bureau will assume control of qualified residential mortgage transactions in the United States. This will require a change in timelines and delays, which local lenders can help to shorten. Additionally, Ironclad Title’s staff is well trained and understands the new rules, which will also help to shorten delays.

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