Our searching methods vary depending on what product you choose. Below you will find a description for each scenario:
For a real estate sale you will want a "full search", which is a 60 year chain of title search, or if you have title insurance currently a "Re-Issue search", (which is from the current policy effective date to present). This searching method would apply for all types of real estate sales: residential, commercial or vacant land. You can place a title order for a real estate sale directly via our website.
For a refinance the lender will determine what they require. For lenders refinancing real estate your first determining question should be: What type of real estate are you refinancing, residential or non-residential? Your second determining question should be: What are your underwriting guidelines? Pricing and searching is based on the type of search and the type of property. As an example: An "Expedited Loan Policy" is an abbreviated search and will suffice for most residential refinances based on your underwriting guidelines. However, commercial property does not qualify for an Expedited Loan Policy. You can place the refinance title insurance order of your choice directly via our website.
For a new construction situation, whether you are a home owner building a new home, or a lender handling a "spec" loan or "contract" loan, you will need a "full search" on the property. If there is an existing title insurance policy already on the vacant land, a "Re-Issue search" could be performed, however, please read below about the importance of a "full search". The "full search" or "Re-Issue search" methods would apply regardless of the property use: residential, commercial or industrial/manufacturing. You can find a description of our new construction services, place a new construction order directly via our website, and download supporting documents.
For a letter report you are not obtaining an insurance product and an abbreviated search is performed. Each title company may have their own set of searching practices or guidelines for a letter report. Assurance Title searches back to the current owner of record forward and conducts a 10 year judgment search along with checking the real estate taxes. Coverage on a Letter Report is only up to the face amount paid for the Letter Report itself. You can place a Letter Report order directly and find a description of our Letter Report service on our website.
Importance of A Full Title Search
Having a title company you can rely on to perform a proper title search is important. At Assurance Title we perform a sixty (60) year chain of title search on all real estate sales without prior title evidence. When we receive prior title evidence (an owner's existing title policy) we then examine the policy and double-check it against our own internal records.
Important note: Not all owners' policies have had a full search.
Title practices have changed over the years, in many good ways (technology), and unfortunately in not such good ways. For example, "catch-all exceptions" began appearing in Owner's Policies, which stated: "Any easements, restrictions, etc. shown in the public records". If you see this, it is an indication that the title company did not conduct a full title search. As a professional or as a home owner, be sure that all parties to your transaction are made aware of what easements, covenants or other matters affect the subject property. At Assurance Title, you can rest assured that you will receive a high-quality product. One of the core values at Assurance Title is to pay close attention to the details and deliver complete title searches.
The searching process is the core of our business and we take this part of our business very seriously. At Assurance Title we have our own internal judgment index system that we can check against the Clerk of Courts for Winnebago County. What does that mean? It's another double-check method that is not a routine practice of all title companies. Our judgment system is maintained on an ongoing basis (we have over 20 years of data). In addition, we purchase all recorded documents from the Winnebago County Register of Deeds and we back them up nightly to the cloud. What difference does this make? Information is always just a click away, we value our efficiencies.
Assurance Title also subscribes to Laredo, which is the system the Winnebago County Register of Deeds utilizes for their tract index and we search the records "in house" from our own computers with this method. However, not all the records are on the Laredo system, so we also physically go to the Register of Deeds Office and dig through the big plat books and obtain necessary information that pertains to our search. Our title staff is experienced and well trained. As an example, both our title searcher and title examiner hold Wisconsin title insurance licenses, not to mention their years of combined experience. Assurance Title is a member of ALTA (American Land Title Association) and WLTA (Wisconsin Land Title Association). Assurance Title adheres to ALTA'S Best Practices Policies and we continually seek to improve ourselves through education and maintaining proper ethics.
Assurance Title has a long-standing reputation for excellent service and caring about our customers.
"We not only care about today, we care about preserving the integrity of our industry for tomorrow."