Once your offer has been accepted by the seller, your file will head over to the escrow closer’s office.  Escrow takes action on various items related to your home closing as laid out in the contract you have with the seller; they also hold onto your deposit (AKA the “earnest money” that you’ve put down for the purchase).  



The title insurance company’s main role is to ensure the title to the property is free and clear of such things as liens, encumbrances or defects so that ownership can be freely transferred from the seller to you.  If the title report comes up clear for transfer, they will issue two title insurance policies at closing – one to you and one to your lender.  Various types of title insurance grant you and the bank different levels of protections in the case that unexpected title defects or unrecorded issues turn up.  Buyers pay for a title insurance policy for their mortgage provider and sellers pay for a policy for the buyers.  Most sellers will make a preliminary copy of the property’s title report available at the time of listing.  The report will show things such as easements and liens against the seller