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"If you're buying a home, tell your real estate agent "I want to use PV Settlement."

How Does Title Insurance Work?

The title is your right to own or use your property. The title also establishes any limitations on those rights. 

Once your offer on a home or other real estate property has been accepted by the seller, your transaction is placed into escrow. An escrow is an arrangement in which a neutral third-party, called an Escrow Holder, holds legal documents and funds on behalf of a buyer and seller and facilitates the transaction by managing the disbursement of these legal documents and disbursement of funds according to the Buyer’s, Seller’s, and Lender’s instructions.

People buying and selling real estate often open an escrow for their protection and convenience. The Buyer can instruct the Escrow Officer to disburse the purchase price only upon the satisfaction of certain prerequisites and conditions. The Seller can request to retain possession of the deed to the buyer until the seller’s requirements, including receipt of the purchase price, are met. Both rely on the Escrow Officer to carry out faithfully their mutually consistent instructions relating to the transaction and to advise them if any of their instructions are not mutually consistent or cannot be carried out.

To put it simply, title insurance is a way to protect yourself from financial loss and related legal expenses in the event there is a defect in title to your property that is covered by the policy. Title insurance differs from other types of insurance in that it focuses on risk prevention, rather than risk assumption. With title insurance, title examiners review the history of your property and seek to eliminate title issues before the purchase occurs. Title insurance also differs in that it comes with no monthly payment. It’s just a one-time premium paid at closing.

The one-time premium that you’ll pay for a title insurance policy varies by state but generally is related to the value of your property. You can use our Rate Calculator to estimate how much your title insurance policy may cost. Your owner's title insurance policy lasts for as long as you or your heirs own your property. Your life will change over time, but your peace of mind never will.

Sometimes undiscovered defects can come up after the title search. Under an owner's title insurance policy, you are protected against certain undiscovered errors in the title.

Title issues include unknown:

  • Outstanding mortgages and judgments, or a lien against the property because the seller has not paid taxes
  • Pending legal action against the property that could affect you
  • Unknown heir of a previous owner who is claiming ownership of the property

Unforeseeable title claims include:

  • Forgery: making a false document
    - For example, the seller misrepresents the identity of the person who sold the property.
  • Fraud: deception to achieve unfair gain
    - For example, someone steals your identity and either sells your house without your knowledge or consent, or takes out a second mortgage on the property and walks away with the money.
  • Clerical error: inconsistent paperwork and historical records
    - For example, an unforeseeable discrepancy in the property or fence line can cause confusion in ownership rights.

A Lender’s Policy provides no coverage to the homeowner. A Lender’s Policy insures that your lender has a valid, enforceable lien on your property. Most lenders require borrowers to purchase this type of insurance policy to protect their investment.

An Owner’s Title Policy is designed to protect you from covered title defects that existed prior to the issue date of your policy. If a valid claim is filed, your Owner’s Policy, subject to its terms and conditions, will cover the financial loss up to the face amount of your policy.

Closing is the final step in executing the home buying transaction. Once our staff reviews your policy and completes a property search you will be able to schedule your closing date.  It is the process that allows the transfer of ownership to occur. Upon completion of the closing process, you get the keys to your home!

Looking to get in touch?

(412) 593-4800

M-F: 9:00 a.m. – 5:00 p.m.

Address: 300 Fleet Street #105, Pittsburgh, PA 15220

Email: status@pvstitle.com

Don't just take our word...

Adam Carandang
Adam Carandang
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"PV Settlement is very professional and communicated well throughout the process! They continue to make things super easy/simple for my partner and I. Highly recommend!"
Clayton Zelazowski
Clayton Zelazowski
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"Meeting and beating deadlines are critical metrics to the success of my company and any real estate related company offering expedited title search & closing services. Ryan and his team understand expediency and communication better than any title and closing company in Pittsburgh, hands down."
Ryan Kanski
Ryan Kanski
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"I highly recommend this company as they have done several real estate closings for me in the past and have resolved all title concerns with ease & resolution."
Derrick Lubomski
Derrick Lubomski
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"I've used PV Settlement for the closing on both investment properties as well as my own personal property now. Even through the weird times we are facing in the world, they have always been great with communication and getting the job done. Would highly recommend."
David Carmona
David Carmona
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"The BEST settlement company in all of Pittsburgh! If you are looking for professionalism, top notch customer service, fluid communication, and reliability, look no further than PV Settlement, LLC. Partnering with them was the best decision we could have made. Ryan and his team exemplify how true quality service should be. Our dealings with them have been ultra smooth.
Pittsburgh Property Remodelers LLC
Pittsburgh Property Remodelers LLC
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"PV Settlement is hands down the best title company in the city of Pittsburgh! I own an investment company and have used them over 15 times and every time it's the same great service! Never any issues and all of my closings have closed within 30 days! Hands down the best in the business! Ryan Fisher continues to help us daily, even if I need a question answered or a referral for lending, he's always there for us!"
Faizul Islam
Faizul Islam
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"Seamless process every time! Outstanding customer service. Ryan sets the example with his leadership at PV title. All around a A+ crew of consummate professionals."
Samantha Melhorn
Samantha Melhorn
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"Fast, Efficient, Affordable, and most importantly - Accurate! I always recommend PV Settlement to my clients if they want a worry-free closing!"
Emily Murphy
Emily Murphy
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"I have closed with PV Settlement multiple times and I trust that they will not miss any important details. I know they will perform professionally, and on time. Whenever I have a question about the status of a transaction they are always prompt with a reply. I would recommend them, and I will definitely be using them in the future."
Ryan Scialabba
Ryan Scialabba
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"Hands down the best title company in Pittsburgh. We’ve successfully completed well over 200 closings with them and their staff is unmatched. Thank you for everything you do"
Michael Cowden
Michael Cowden
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"Owning a real estate firm, it is important who we do business with and put “our names” on other companies and rely on them to preform at the same level of business and professional as we do ourselves. We can always depend on Ryan and his team. They have provided excellent communication to our clients and our agents. We will continue to use them for all of our future title and closing needs."
Helping Hands Realty LLC
Helping Hands Realty LLC
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Elizabeth Kazeva
Elizabeth Kazeva
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"PV Settlement is the #1 best closing company. They are very accommodating, prices are very competitive, and they go above and beyond for their clients, especially Ryan. I use them for every transaction and they make me feel deeply valued and appreciated as a loyal client."
Dustin Singer
Dustin Singer
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"These guys are great to work with! Excellent communication, always available to answer questions, wouldn’t take my business anywhere else!"
Lisa Mroziak
Lisa Mroziak
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"The people at PV Settlement provide excellent, professional, and knowledgeable service. I highly recommend them!"
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