Questions? We have answers.

Title and escrow can sometimes make your head spin. We’ve put together a list of most frequently asked questions, sorted by user, to help you to understand and navigate the process like a pro.

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Realtor©
Lender
Seller
Buyer
Developer
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What are fees to set up and draw fees?
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The setup fee is $300. For additional fees and draw fees, please refer to the construction disbursement agreement.

Developer
Can you assist in draws for our project?
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Possibly. Typically, we need to have a title insurance policy as well as a lender involved in the project. Please call 406.522.5500 with questions.

Developer
How do I qualify as a developer?
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We can best explain over the phone. Please call us at 406.522.5500.

Developer
How will I know who my contacts are working on my transaction?
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Once the order had been entered into our system, an email is sent to the agent, lender, attorney or seller/buyer in a “For Sale By Owner” with your examiner and escrow team members.

Developer
I am selling/buying a home without an agent. Do you have someone to assist?
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We suggest you work with an attorney. Here is a resource for Bozeman real estate attorneys.

Buyer
Seller
What information do I need to have for closing in addition to legal ID and certified funds?
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If you are a business, partnership or trust, we will need your FEIN number. If you are an individual, we need the last four digits of your social security number. If water rights are transferring though the closing, we will need DNRC docs.

Buyer
Seller
Developer
My commitment states that I have “lack of access.” What does that mean to me?
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This means there is not a passable route to reach your property.

Buyer
Seller
I cross railroad tracks to get to my house. How does this affect my access?
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Depending on the access, a permit may be required. For further questions, please call a title officer.

Buyer
Seller
How can I help make the closing go smoothly?
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Seller - As your title commitment is reviewed, please be prepared to provide your HOA contacts, payoff information for any loans and after-sale mailing address. Also, please pass along any information you have about water rights.

Buyer - Is your closing remote or local? Please be able to provide your trust, LLC or other docs for underwriter approval and review, if applicable.

Buyer
Seller
I have an escrow account with my lender for taxes and insurance. Why am I getting the bill?
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Even if your taxes and insurance are rolled into your escrow account, you will continue to get a bill. We suggest getting confirmation that your escrow account has paid for the taxes and/or insurance.

Buyer
Seller
I received a tax bill. What do I need to do if I just had a closing?
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Your closing disclosure or settlement statement would refer to the credit or debit for taxes. If you have additional questions, your Security Title Company escrow team is happy to help. Find your team’s info on the front sheet of your closing packet.

Buyer
Seller
Can you suggest an appraiser?
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If you are working with a lender, they will have a list of approved appraisers. If you don’t have a lender, here is the link to the Gallatin Association of Realtors. They can help.

Buyer
Seller
Do you provide a blank buy/sell agreement for “For Sale By Owner” transactions?
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No, you can find one online or have an attorney prepare a contract for you. We do have a “For Sale By Owner” form that may help in the preparation.

Buyer
Seller
Do you prepare documents, like deeds, buy/sell agreements and other legal documents?
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No, we do not. Those are prepared by an attorney or realtor.

Buyer
Seller
What are my premiums for title insurance?
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Please see the calculators on our Calculators page.

Buyer
Seller
Developer
Do you know my HOA contacts?
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We don’t have a list, but if we do have a contact we are happy to share their information.

Buyer
Seller
How do I need provide my funds to Security Title Company to close?
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Certified funds in the form of a wire or cashier’s check. If you have questions, please contact your escrow team.

Buyer
Seller
When do I get my keys to my new home?
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Possession is determined by your buy/sell agreement. Contact your agent with further questions.

Buyer
Seller
I have another transaction at another title company. How do I get my proceeds to that other title company?
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Provide us the contact information for the other title company. We will work with them to get the funds to them.

Buyer
Seller
Developer
I want to wire funds to Security Title Company. How do I do it?
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Your escrow team can send you instructions. First, we will need the following:

1. Full legal name

2. Mobile number. This cannot be a land line or your office land line number.

3. Email address

Seller
Buyer
Developer
What do I need to bring to closing?
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Sellers, please bring a government issued photo ID. Buyers, please bring a government issued photo ID and funds in the form of a cashier’s check (certified funds) or wire.

Seller
Buyer
Will I receive my closing funds (wire) on the day of closing?
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We are able to release funds once the transaction has been recorded. If the transaction records after the bank’s wire cutoff, the funds are wired the following business day. Once the wire has been sent, it is bank dependent on when the funds will enter your account.

Buyer
Seller
What is Security Title Company’s License number?
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Security Title Company's license number is 10150. Title insurance agents and title agencies must obtain a license in the states where they plan to work.

Lender
What is the difference between a standard, extended and homeowner’s title insurance policy?
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A lender's title policy protects the lender's interest up to the amount of the loan. The owner's coverage protects the buyer of the property's interests if a title problem comes up. While lenders' policies typically contain an extended level of coverage, the owner's coverage comes in standard or extended forms.

Lender
Buyer
Seller
As a lender, what can I do make the recording more efficient in closing the loan that you have processed?
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We will need all the title requirements met before closing, such as article of organization, LLC docs and any document(s) showing who can execute documents on behalf of that entity.

Lender
What is a beneficiary’s deed?
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A beneficiary deed, also called a transfer-on-death deed, transfers the property to a beneficiary only upon your death.

Realtor
Buyer
Seller
What is the difference between joint tenancy and tenants in common?
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Joint tenants are property co-owners who acquire equal shares of the property on the same property deed at the same time. Tenants in common are also two or more people who own real estate together. They can have equal ownership or different percentages of ownership. Tenants in common can come into ownership at different times, unlike joint tenants.

Realtor
Buyer
Seller
What are the different ways I might hold title?
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There are a few different ways, including joint tenancy, being tenants in common and receiving a beneficiary's deed.

Realtor
Buyer
Seller
How does Security Title Company handle water rights?
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We can transfer them if you provide us with an abstract number, but we can’t research them. For more information about water rights, contact the DNRC with questions.

Realtor
Buyer
Seller
Developer
I’m a contractor or subcontractor. When can I pick up my check?
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It depends. Once we have the funds, we will cut the check within 24 hours. If you have questions, please call us at 406.522.5500.

Realtor
Lender
Buyer
Seller
Developer
I see on my commitment I have an effective date. What is that?
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That is the date when the property was searched for ownership, liens, or encumbrances on the said property.

Realtor
Lender
Buyer
Seller
Developer
Do you accept ACH or ACH funds?
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No.

Realtor
Lender
Buyer
Seller
Developer
Can we have Remote Online Notary (RON)?
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Possibly. Please contact your escrow team to learn more. Typically, a fee of $175 will apply (that fee total may vary).

Realtor
Lender
Buyer
Seller
Developer
What is the cost to record?
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Please see the fee sheet.

Realtor
Lender
Buyer
Seller
Developer
What is the recording cutoff time?
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In Gallatin County, it is 4:30 PM MST. In Park and Madison counties it is 4:15PM MST.

Realtor
Lender
Buyer
Seller
Developer
I have a power of attorney document. What do I need to do?
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We must have the original to record. It may not be a copy. Please provide a copy before closing for review. Bring the original to closing. Also, if a lender is involved, they will need to approve the power of attorney.

Realtor
Lender
Buyer
Seller
Developer
How does a property get zoned?
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The planning and zoning department in your county can best answer those questions. Please contact the office in the county in which you reside or are purchasing property.

Realtor
Buyer
Seller
Do I qualify for a discount on my title insurance?
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If you have purchased or refinanced within three years a discount may be provided. Please contact your examiner with questions.

Realtor
Lender
Buyer
Seller
Developer
Where do the title rates come from?
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We are regulated by the insurance commissioner for the State of Montana. Rates come from the commissioner.

Realtor
Lender
Buyer
Seller
Developer
I have questions on the exceptions on my commitment? What should I do?
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We can provide you with the copy of the document(s.) We do not provide legal advice but can suggest an attorney for legal review.

Realtor
Lender
Buyer
Seller
Developer
Who is the escrow or title officer assigned to my file?
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That information can be found in the welcome email you received.

Realtor
Lender
How do I obtain wiring instructions?
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A new order must be received in-house prior to receiving wire instructions. An escrow assistant will coordinate providing the certified instructions. We will need your legal name, email address and cell phone number to send instructions.

Realtor
Buyer
Seller
Where do I send a new order request?
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Realtor
Lender
Buyer
Seller
Developer
Can you help me with the title on my car, motorcycle or other vehicle?
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We cannot. We are only in the business of real property. Please contact the Montana Motor Vehicle Division for anything vehicle-related.

Realtor
Lender
Buyer
Seller
Developer
I have an escrow account for taxes and insurance. Why am I getting the bill?
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Even if your taxes and insurance are rolled into your escrow account, you will continue to get a bill. We suggest getting confirmation that your escrow has paid for the taxes and/or insurance.

Realtor
Lender
Developer
Who do I contact for a septic search? Water rights?
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Please visit the septic and waste department for the county in which you reside or are purchasing property.

Realtor
Lender
Buyer
Seller
Developer
Am I in a flood zone? Who should I contact?
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Flood zones are provided by planning offices by county. Please visit your county’s planning office online for more information about flood zones.

Realtor
Lender
Buyer
Seller
Developer
I received my title commitment. Who can I talk to about it?
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The front cover of the title commitment provides the contact information for your title and escrow officers.

Realtor
Lender
Buyer
Seller
Developer
Who should the check for earnest money or closing funds be made out to?
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Security Title Company. A personal check is OK for earnest money, but certified funds are required for closing. Funds may also be wired to us.

Realtor
Buyer
Seller
What do I need to provide for earnest money?
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A personal check with the property address listed. If you are dropping it off in the box outside our Bozeman office, please include a phone number where we can reach you if we have questions. You can also wire it to us. If you wire it, please include the property address and the name on the buy/sell.

Realtor
Buyer
Seller
Does a property profile include easements on the property?
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No. You would need to have a full title examination completed.

Realtor
Are premiums due one time or are they a part of the mortgage loan monthly amount?
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They are a one-time fee paid at closing.

Realtor
Lender
Buyer
Seller
Developer
How long is title insurance coverage for?
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For as long as you own the property.

Realtor
Lender
Buyer
Seller
Developer
What is escrow?
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Escrow is the process in which the funds of a transaction, like the sale of a house, are held by a third party. Our in-house escrow team handles this process for you and walks you through every step, answering any questions you have along the way. Escrow professionals are neutral during this process, ensuring a fair and honest process.

Realtor
Lender
Buyer
Seller
Developer
How is a title insurance policy created?
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Our in-house team creates your insurance policy. An escrow officer or lender opens the title order, then a title agent or attorney begins a title search. This is a thorough process that results in a Preliminary Report that is given to the customer for review and approval. All closing documents are recorded upon escrow’s instruction. When recording has been confirmed, demands are paid, funds are disbursed then the actual title insurance policy is created.

Realtor
Lender
Buyer
Seller
Developer
Who needs title insurance?
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Anyone buying property as well as lenders need title insurance in order to be insured against various possible title defects (like those mentioned above). The buyer, seller and lender all benefit from issuance of title insurance. An owner’s policy insures the buyer. A lender’s policy insures the financial institution.

Realtor
Lender
Buyer
Seller
Developer
What does title insurance cover?
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Title insurance protects against claims from defects, like another person claiming ownership, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items specified in the insurance policy.

Realtor
Lender
Buyer
Seller
Developer
How does title insurance differ from other insurance?
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Car, life, health and other kinds of insurance protect against potential future events and is paid for with monthly or annual premiums. Title insurance insures against events that occurred in the past of the real estate property and the people who owned it. It is a one-time premium paid at the close of the escrow.

Realtor
Lender
Buyer
Seller
What is a title?
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A title is a legal document that details the specifics about a property. It can be used as evidence that an owner is in lawful possession of it. Every property has one.

Realtor
Lender
Buyer
Seller
Developer
What is title insurance?
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While other kinds of insurance protect you from what might happen in the future, title insurance protects you from your property’s past. Title insurance protects real estate owners and lenders against property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions.

Realtor
Lender
Buyer
Seller
Developer
When will I get my settlement statement?
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Typically, you will receive it a day or two before closing. But, if a lender is involved, we need to receive their numbers. Our hope is ASAP. Reach out to your escrow team with questions.

Realtor
Buyer
Seller
Have you sent covenants to my client?
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We are happy to send them. Contact your examiner or email examiners@sectitle.com.

Realtor
How will I know which contacts are working on my transaction?
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Once the order had been entered into our system, an email is sent to the agent, lender, attorney or seller/buyer in a “For Sale By Owner” with your examiner and escrow team members’ information.

Realtor
Lender
Buyer
Seller
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