Atlantic Coast Settlement Services (ACSS) offers title, escrow, and settlement services to meet your real estate needs. Whether you are buying, selling, or refinancing your home, our commitment is to provide you with a smooth and informed closing process. We understand that buying or selling a home can be one of the biggest decisions of your life. With over 55 years of combined experience providing title and escrow services in the Commonwealth of Virginia, we understand the guidance and information you need. We are familiar with local customs and procedures, and our extensive knowledge of the ins and outs of the title and escrow business means that our services are unmatched.
The Atlantic Coast Advantage
- Locally owned and operated
- Over 55 years of combined experience in real estate
- Convenience: closings that come to you
- Communication: always reach a live person
- ALTA Best Practice Compliant
Title insurance is a unique form of insurance for a property that insures against a future claim for a title defect from the property’s past, for example: undisclosed heirs, unreleased liens held by prior financiers of the prior owners, forged deeds, etc. When you purchase title insurance, our experienced title examiners will perform a thorough title search by combing through all available public records, but there’s always a chance of a document being misindexed at the courthouse.
Your property is pledged as security for your mortgage loan, so your lender protects its interest through a lender’s title insurance policy; however, this policy doesn’t cover you. As the buyer, you purchase your own title insurance so you’re protected as well. We can help you do that.
An owner’s policy protects your interest in the property against hidden hazards and errors such as
- Mistakes in the recording of legal documents
- Forged deeds, releases, or wills
- Undisclosed or missing heirs, including spouses
- Deeds by persons of unsound mind
- Deeds by minors
- Deeds executed under an invalid or expired power of attorney
- Liens for unpaid taxes
An Owner’s Title Insurance Policy is a one-time premium paid during the closing process. With an owner’s title insurance policy, your title insurer assumes all responsibility for legal expenses to defend the title to your property if the title is ever challenged. If the defense is unsuccessful, you will be reimbursed for any reduction in the value of the land. Purchasing an Owner’s Title Insurance Policy is an important layer of security and protection for your property.
Escrow (also referred to as the “closing agent” or “settlement agent”) is the process where an impartial third party,- like Atlantic Coast Settlement Services, is entrusted with the job of seeing that the transfer of ownership from the Seller to the Buyer takes place according to the terms of the written contract agreed upon by all parties involved. The settlement agent will hold all funds and documents safely until the terms of the contract have been met and all details finalized. The settlement agent will then disburse all funds and documents to the proper parties.
Prior to the closing date, ACSS will work with the seller’s representative to ensure the purchaser is provided with a clear title to the property at closing. On the actual day of closing, the buyer will be required to provide all necessary funds to ACSS. If there is a mortgage or loan involved, the buyer will also sign the mortgage closing documents at this time.
If you have recently signed a contract for your purchase/sale transaction or if you are refinancing your home, please visit the link below to begin the closing process by placing an order for title and escrow services.