First Financial Title Agency Logo

about

FIRST FINANCIAL TITLE AGENCY OF MINNESOTA IS A FULL SERVICE TITLE AND ABSTRACTING COMPANY AFFILIATED WITH THE LAW FIRM OF SHAPIRO & ZIELKE, LLP. 

FIRST FINANCIAL TITLE AGENCY OF MINNESOTA

First Financial Title provides a complement of title search, insurance and closing services for clients, priding ourselves on our commitment to professionalism and outstanding customer service. We have the ability to represent our clients throughout the closing process while providing an extensive knowledge base in all areas. We also provide searches and insure title products for both foreclosure related legal work, and real estate closing matters.  

EXPERIENCED CLOSERS

At First Financial Title we know that the closing process can be overwhelming and confusing. We are committed to professionalism and outstanding customer service.  We help our clients navigate the entire closing process from signing the purchase agreement, to post-closing, and everywhere in between.  

KNOWLEDGEABLE ABSTRACTERS

Our experienced abstracters complete in-depth research to reveal any potential obstacles to closing. We will uncover any liens or judgments against a property and with the help of Shapiro & Zielke, LLP, our affiliated law office; we have the ability to resolve any title issues in a timely manner.  

ANALYTICAL EXAMINERS

Our examiners scour property records to find complete information to meet your title needs. Whether you are purchasing, selling, or researching a property, First Financial Title can help satisfy any title issue.  

ACCREDITATIONS  

Our experienced abstracters complete in-depth research to reveal any potential obstacles to closing. We will uncover any liens or judgments against a property and with the help of Shapiro & Zielke, LLP, our affiliated law office; we have the ability to resolve any title issues in a timely manner.  

O&E REPORTS

  • Vesting information, including a copy of the current vesting deed
  • Unsatisfied mortgages and deed of trust
  • Bankruptcy Search (borrower only)
  • Judgment & Lien Searches
  • Federal tax liens
  • Real Estate Tax Search
  • Mortgage Searches

30 & 40 YEAR SEARCHES

  • Vesting information, including a copy of the current vesting deed along with any deeds back to requested number of years.
  • Unsatisfied mortgages and deeds of trust
  • Bankruptcy search (borrower only)
  • Federal Tax liens
  • Real Estate Tax search

COUNTY RECORDING DOCUMENT SERVICES

  • Full County Recording Services (including e-recording where available)
  • Lien Release Services
  • Document Copies
  • Certified Copies

UNDERSTANDING AN O&E REPORT

Assessment: this will show the dollar value assigned to land and buildings for purpose of measuring applicable taxes. Taxes are based on the assessed value.

Conveyance: This is how ownership is acquired. 

  • Conveys: How they acquired the real estate (Warranty Deed, Quit Claim Deed, etc.)

  • Dated: Date the conveyance document was signed.

  • Recorded: Date the conveyance document was recorded in the County records.

Mortgage Record: All open mortgage liens held on the property, in date order, dated, recorded, and Volume/Page.

  • Amount: Total amount of money borrowed which includes principal and interest paid by borrower to lender of home loan.

Judgments: Liens against the mortgagors or people of interest with the property in question which may affect said property. 

Tax RecordsCity, county, water and sewage taxes owed on the property (real estate only) by the party in question.  

Legal Description: Lot #, Acreage, etc.  

Vested Title Holder: Current owners of real property  

CLOSING AND TITLE SERVICES

1.) The process begins

The sales contract is signed by both the buyer and seller and is delivered to a Closing Agent. The Closing Agent starts the process by opening a title order. At this time, tax information, plat drawing, title insurance, and any necessary conveyance documents are ordered.

2.) Title Search & Examination

All documents of public record which affect the property are searched. Our examiners review all the documents which affect the property in order to determine the current fee owner and any open mortgages, liens, or other possible encumbrances. All the information is then compiled into a Title Commitment, which lists all the outstanding issues that must be resolved before closing in order to properly insure the property involved.

3.) Document Preparation & Procedures

The closing agent reviews the necessary closing documents to ensure all requirements have been met and all documents are in compliance. Sellers and Buyers then sign the relevant closing documents such as the Deed, a Mortgage, a Note, and final Closing Statements. The closing agent then ensures all commitment requirements have been met and the appropriate fees are paid to agents, brokers, attorneys, etc.

4.) Post-Closing

Once all documents are signed, the transaction documents are recorded in the county of which the property is located. Upon completion of the recording, title insurance policies are prepared and sent to the new owner and lender (if necessary).

UNDERSTANDING A CLOSING

Buying a house is a big commitment, but an exciting time. Accompanying all the excitement may be a lot of confusion, everything happens so quickly and some things can go unexplained. Don’t worry too much we can explain the process.

closing

A meeting of buyer, seller, and agents that is final step of a real estate transaction. At the closing money changes hands, documents get signed, and the transaction is finalized.  

Deed

A legal document that conveys ownership in a property. Deeds are recorded with the county where the property is located.

Escrow

Any item of value held by a third party and delivered on completion of an agreement. Typically the earnest money deposit is held in escrow until the closing. The term is also commonly used to describe the period between signing the Purchase Agreement and the Closing.

lien

A legal claim on real property. Liens must be paid off when a property is sold. Liens may include tax liens, mechanics liens, as well as mortgages.

Mortgage  

A legal contract that pledges real property to a lender as security for a debt.   

Title  

The legal document showing the owner is in lawful possession of the property.

Title Insurance

Issued by a Title Insurance Company, it is insurance that protects against losses caused by disputes over property ownership.

Title Search  

A thorough inspection of title records to ensure that the seller is the legal owner of the property and to discover any liens on the property that must be satisfied before the sale is complete.