Commonwealth Escrow & Title

Commonwealth Escrow & Title Commonwealth Escrow & Title proudly serves Richmond and the surrounding areas. We are your real estate closing specialists.

We're serving both residential and commercial customers. Our services include: escrow services, foreclosures, home equity closings, tax information, title insurance, title problem resolution, and title searches. Call today and let us help you close fast!

01/05/2017

The escrow service used for a real estate transaction generally must be agreed upon by the buyer and the seller, as with all of the other terms of a sale. If either party (or the real estate broker who's involved) knows of a reliable company, they will often recommend them.

01/03/2017

We recognize not a lot of work can go into helping a client purchase a piece of real estate – whether you helped them find it or you’re handling their financing. Let’s talk about how we can help you uncover any potential issues with the title.

12/29/2016

Most lenders roll the escrow payment into the monthly mortgage payment as a convenience. This makes the amount due each month predictable, so that the homeowner can more easily plan his or her budget.

12/27/2016

An escrow officer or agent is responsible for processing the escrow in accordance with all instructions from the buyer, seller, and lender. When all conditions required in the original contract have been met, then the escrow is closed and the transaction goes through.

12/22/2016

Escrow companies typically fall under two categories: licensed and controlled. Licensed companies are independent businesses licensed by the state, whereas controlled companies are owned by entities such as real estate brokers and mortgage brokers.

12/20/2016

One of the main reasons that real estate escrow services are so popular is because of the high level of convenience these services offer. All the buyer needs to do is send in the monthly mortgage payment, and from that payment the escrow account ensures property taxes, insurance and more is taken care of.

12/15/2016

Did you know that before title insurance was introduced, the transfer of property titles was handled by people called conveyancers, who search the chain of title to make sure there were no issues? However, under this system, the buyer would bear the full risk of an issue on title coming up later on.

12/13/2016

Once you sign on the dotted line when you purchase a property, you assume full responsibility for it, and everything that accompanies it. This is why a title company is important – they make sure that seller obligations are identified.

12/08/2016

A title company’s signing agent is the person who will guide you through the process of signing all the official paperwork to purchase your home. Although it’s not required, your real estate agent, the seller, and the seller’s real estate agent may choose to be present as well.

12/06/2016

Before a title company issues title insurance, they will prepare an abstract of title, which is essentially a short summary of what it found during the title search (meaning the history of ownership of the property). It will also issue a title opinion letter, which is a legal document that confirms the validity of the title.

12/01/2016

What is a cloud on the title of a home? A cloud or defect often means there is some claim to the property by a third party. The most common clouds on title include unpaid taxes or liens, mistakes in recording the previous title to the property and previously unknown heirs.

11/29/2016

Escrow is defined as “A financial instrument held by a third party on behalf of the other two parties in a transaction.” This service holds the funds until proper oral or written instructions have been fulfilled.

Address

Richmond, VA
23226

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+18043592382

Website

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