What is title insurance?
The purpose of title insurance is to protect a buyer or owner from claims against their ownership. As a buyer, you want to protect your investment.
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Title insurance & 1031 exchangesAll you need to know about title insurance & 1031 exchanges.
Plain-English answers from our team. Short videos on the essentials, plus deeper written Q&A on title insurance, closing costs, refinances, wire fraud, and Section 1031 exchange rules.
How long does the title policy last?
The title policy lasts the duration of your home ownership. It is paid one time at closing. Not a recurring fee.
How much does title insurance cost?
Title insurance premiums are regulated state by state. Typically dependent on your purchase price and the loan amount of your property.
Who orders the title search?
In New Jersey, title insurance is traditionally at the cost of the buyer, and can be chosen by the buyer or by one of the professional parties they're working with.
Owner's vs Lender's title policy
Your owner's policy covers the buyer or owner of the property against claims. The lender's title policy covers the lender's interest in the property.
Is title insurance necessary on a refinance?
Yes. Title insurance is usually required by any mortgage company to close. A refinance does qualify for a lower rate.
How to prevent wire fraud on real estate transactions?
Protect your transaction and your peace of mind. Learn how to spot and prevent wire fraud before it's too late.
What is a 1031 Exchange and how does it work?
A 1031 Exchange lets you defer capital gains taxes by reinvesting proceeds into another qualifying property. With strict deadlines and IRS rules, having the right team matters.
What are the steps in a real estate closing?
The closing process involves reviewing title, resolving issues, and finalizing documents to transfer ownership. A smooth closing keeps your transaction secure.
Written answers
Title & escrow. The questions we hear most.
Plain-English answers on documents, timelines, closing costs, refinances, and how a title company actually works.
Bring an unexpired government-issued photo ID, a cashier's check or wire confirmation for your cash-to-close, proof of homeowners insurance (paid receipt), and any documents your lender specifically requested. Sellers should bring photo ID, keys and remotes, and any payoff-related documents not already sent to us.
A standard residential purchase closes in about 30–45 days from contract on a financed transaction. Title search and examination take 7–14 business days; the rest is lender approval, appraisal, and any curative work. Cash purchases can close in as little as two weeks.
Yes. Under RESPA Section 9, the buyer generally has the right to select the title company. Your agent, attorney, or lender may recommend one, but the choice is yours. Many buyers pick Rally Point on referral because the file runs cleaner.
A title search is the retrieval of documents. Deeds, mortgages, judgments. From public records. A title examination is the legal analysis of those documents to determine whether the seller can transfer clean, marketable title. The search is the raw material; the exam is what makes it useful.
A lien search identifies claims against the property. Unpaid property taxes, utility balances (water, sewer, electric), court judgments, contractor mechanic's liens, HOA assessments, and open building permits or code violations. Liens generally follow the property, not the previous owner, so catching them before closing is essential.
Every exception is documented and delivered with the title commitment. Common issues include unreleased mortgages, forgotten liens, or heirship questions. Most are curable with the right paperwork and a day or two of work. We flag issues early with a proposed cure path so the closing timeline stays on track.
Typical buyer closing costs include title insurance premiums, lender fees, prepaid property taxes and insurance, recording fees, and state-specific taxes (like NJ's Mansion Tax or FL doc stamps). Total closing costs typically run 2–5% of the purchase price. We provide a detailed estimate at file open, not the night before closing.
Yes. We handle single-parcel and multi-parcel commercial transactions, mixed-use, multi-family, and complex entity-vested ownership structures across NJ, NY, PA, and FL. Commercial files include preliminary title commitments and ALTA endorsements as required.
Rally Point Title Agency is licensed and closes files in New Jersey, New York, Pennsylvania, and Florida. Our headquarters is in Matawan, NJ, and we coordinate multi-state closings for clients with property in more than one of these markets.
Yes. Refinance transactions are typically simpler than purchases. No seller involvement, no realty transfer taxes. We work directly with your lender, order the title update, coordinate the payoff of your existing mortgage, and get you to signing quickly. Same-day file acknowledgment, 5–7 day title commitment turnaround.
Written answers
1031 Exchange. The questions we hear most.
Deadlines, identification rules, and the mechanics of a Section 1031 like-kind exchange.
A Qualified Intermediary (QI) is an independent third party who holds the proceeds from your relinquished-property sale and uses them to acquire your replacement property. The IRS requires that you never touch the exchange proceeds. Receiving them directly disqualifies the exchange. Rally Point acts as your QI, keeping the transaction compliant from sale through purchase.
Both clocks start on the day you close your relinquished property. Day 45: you must identify replacement property in writing to your QI. Day 180: you must complete the purchase of the replacement property. Both are calendar days. Weekends and holidays count. Missing either voids the exchange.
Yes. A 1031 exchange is a federal tax provision and isn't limited by state boundaries. You can sell in New Jersey and buy in Florida, or sell in New York and buy in Pennsylvania. Our nationwide QI service coordinates title and settlement at both ends of the transaction under one relationship.
Both properties must be held for productive use in business or investment: residential rentals, multi-family, commercial (office, retail, industrial), mixed-use, agricultural land, and land held for investment. Primary residences, property held primarily for resale (flips), and personal-use assets do not qualify.
Within the 45-day identification period, use one of three IRS rules: Three-Property Ruleidentify up to three properties regardless of value; 200% Ruleidentify any number of properties whose combined value doesn't exceed 200% of the relinquished property; 95% Ruleidentify more, but you must acquire at least 95% of the total identified value.
In a forward exchange, you sell your relinquished property first and then acquire the replacement within the 45/180-day windows. In a simultaneous exchange, both transactions close on the same day. Forward is the most common structure; simultaneous can simplify timing when the buyer and seller of your replacement property align.
Yes, but you'll pay tax on whatever you take. Cash you receive from the exchange proceeds. Called bootis taxable to the extent of your realized gain. To fully defer gains, all proceeds must go into the replacement property, and the replacement must have equal or greater value and debt.
Vacation homes may qualify under specific IRS rules. Generally the property must be rented to third parties for at least 14 days per year, personal use must be limited to 14 days or 10% of days rented (whichever is greater), and there are holding-period requirements. Always consult your tax advisor to confirm eligibility for your situation.
The exchange fails. If you miss the 45-day identification deadline, the exchange is voided; if you identify on time but miss the 180-day closing, only the exchange with the replacement property that closes on time can be preserved. Either way, capital gains tax comes due on the original sale. This is why deadline tracking and early file opening matter.
A Delaware Statutory Trust is a passive investment vehicle that qualifies as replacement property in a 1031 exchange. Investors own a fractional interest in institutional-grade real estate (multi-family, industrial, retail) without direct management responsibility. DSTs are commonly used by investors who want to defer gains but don't want to actively manage another property.
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