An independent estimate of a property’s market value, usually required by lenders before approving a loan.

The final step in a real estate transaction where documents are signed, funds are exchanged, and ownership officially transfers from seller to buyer.

The legal document that transfers ownership of property from seller to buyer

A good-faith deposit made by the buyer when an offer is accepted, held in escrow until closing.

A neutral third party that holds funds and documents until all conditions of the sale are met.

The licensed professional who manages the escrow process—coordinating documents, funds, and compliance to ensure a smooth closing.

A legal claim against a property for unpaid debt, such as taxes, child support, or contractor work. Liens must be cleared before ownership can transfer.

A one-time purchase that protects the buyer’s ownership rights against past claims, errors, or disputes.

Insurance that protects the lender’s interest in the property (required for most financed purchases).

A report provided before closing that shows the current ownership, liens, easements, and any issues that must be resolved before title can transfer.

The official filing of the deed and other documents with the county recorder’s office, making the new ownership part of the public record.

Legal ownership of a property, confirmed by public records and conveyed through a deed.

A review of public records to confirm ownership and check for liens, unpaid taxes, easements, or other issues that could affect ownership.

The process where the title insurance company evaluates the property’s history and determines the coverage available for the policy.