Buyer FAQs about title and the closing process

Edina Realty Title is your trusted and reliable title company serving Minnesota and western Wisconsin. Below, we answer homebuyers' title and closing questions.

What is title insurance?

Your lender will require you to purchase lender's title insurance, which protects the lender's interest in your property.

To protect yourself against hidden claims on your property or claims that the title is invalid, you have the option to purchase a separate policy called owner's title insurance. This policy is purchased at closing for a one-time fee based on the price you paid for your home. The owner's policy will pay for all court costs and related fees of any covered title risk. If a claim is found valid, you are covered up to the face value of the policy.

The buyers' closing process

• Purchase agreement is signed by all parties.
• Buyer meets with a loan officer to complete the mortgage approval process.
• Closing date and time are scheduled.
• Buyers safely and securely manage the personal information that is needed to close using Edina Realty Title's exclusive online technology.
• Buyer submits information and review and upload documents from desktop and mobile devices.
• Edina Realty Title prepares closing documents and submits to lender for approval of the final settlement statement. Once approved, buyer receives final costs of purchase.
• For buyer security, Edina Realty Title requires a cashier’s check payable to Edina Realty Title as the method of payment.
• Edina Realty Title performs the closing, disburses funds, submits the deed to the county for recording and issues a homeowner's title insurance policy.

What should I bring to the closing appointment?

• A valid photo ID
• Your social security number
• A cashier’s check payable to Edina Realty Title for the amount specified in the most recent Closing Disclosure you received from your loan officer or lender
• A checkbook, in case of other charges

How long will it take to close on my new home?

Generally, closings are completed in an hour.

What can I do if I can't attend the scheduled appointment?

Your real estate agent and your loan officer should contact the Edina Realty Title closer to see if you can pre-sign your documents or if a power of attorney can be used.

Who orders title work? How quickly can we close?

The lender or loan officer orders title work, and the title company cannot begin work until that order is received. Typical turn-around time ranges between 3 to 5 days. If your home purchase is a contract for deed or cash transaction, your closer will order the title work.

When do I get a copy of my title?

Real estate is transferred by a deed. You receive a copy of your deed at closing. After the deed is recorded with the county land records, you will receive a copy of the recorded deed, as well as a copy of your homeowner's title insurance policy.

I have a problem with the title to my property. Does my title insurance protect me?

If you purchased an owner's title policy through Edina Realty Title, please call 952-928-5200 and ask to be directed to our Claims Department. They will help you determine if you're protected against the claim.

If you closed with another title company, please contact their customer service department for instructions, or follow the steps as shown in your policy.