Frequently Asked Questions

Click here for a straightforward explanation of commonly used terms associated with real estate closings, such as “lien” “escrows” and “Settlement statement.”

When you purchase real estate, you obtain “title” to the property. Title insurance protects your ownership, or title to the real estate by insuring that the property is free of unknown mortgages, liens, judgments, and other encumbrances that can adversely affect your title to the property. Title insurance protects buyers from these hidden risks. Additionally, most lenders who take a mortgage on property require their borrowers to purchase title insurance.

Title insurance rates are established by the Commonwealth of Pennsylvania via the Title Insurance Rating Bureau of Pennsylvania. Title insurance rates are determined by the purchase price if you are buying real estate or the loan amount. if you are refinancing. Unlike other forms of insurance, title insurance involves a one-time premium payment at the time the policy is issued and it lasts for as long as you own the property. Click here for an estimate.

Yes, (unless otherwise specified in your agreement of sale) if you are buying property or refinancing your home you generally have the right to choose the settlement company. Three Rivers Settlement Services, Inc. has over 25 years of experience and performs real estate closings for many major lenders as well as for purchasers in cash transactions. Unlike many other settlement companies, all Three Rivers Settlement Services, Inc.’s closings in Allegheny and the contiguous counties are conducted by Voelker & Associates attorneys. Our attorneys have conducted thousands of real estate closings, ranging from the single-family homes to multi-million dollar commercial properties. Three Rivers Settlement Services, Inc. is committed to ensuring that all aspects of a real estate settlement are handled accurately, securely and expeditiously.