Frequently Asked Questions
WACO continues to monitor developments related to COVID-19, and we want to assure you that we are actively implementing best practices as recommended by the Centers for Disease Control and Prevention (CDC) in our branches and offices in an effort to better serve you. We are committed to keeping our customers and associates informed and remind you that the health and safety of our customers, community members, and associates is our #1 priority. WACO is taking additional steps to ensure our branches remain clean, and we are currently maintaining regular operations and hours in all of our branches. Please know this is a dynamic situation and if changes in operations occur, we will communicate those changes as quickly as possible.
We remain committed to providing you with the best possible service with 24 locations throughout Arkansas and Missouri.
Glad you asked. Check out this video from our Director of Closing Operations, Amanda Brumbelow:
We get this one a lot. No Texas connection here. Our company was founded in 1885 in Springdale, Arkansas as Washington County Abstract & Guaranty Company. Over time, people started shortening the “Washington County” portion to WACO (pronounced way-ko). Further, as the old world of abstracts gave way to title insurance, we became known as WACO Title, and it happened so often that we eventually took it on as our official name.
You mean outside of our awesome offices and our cool name? In all seriousness, we think it has an awful lot to do with our people (the best in the business) and the core values we hold dear. Those core values are Teamwork, Respect, Integrity, Customer Focus and Excellence. To abbreviate, that would be “TRICE,” which the dictionary defines as “very quickly.” And that is the way we strive to deliver those values and our services.
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Title simply means ownership rights to your property.
Title insurance is a policy that protects your investment and property rights. There are two different types of title insurance: owner’s policy and lender’s policy.
- An owner’s policy is purchased by you, the homebuyer. While it is your choice, purchasing an owner’s title insurance policy is the best way to protect your interests.
- Who does it protect? You, the homebuyer, are covered as well as your trustees, inheritors, and beneficiaries.
- A lender’s policy is usually paid for by you or the seller. It is almost always required by the lender and protects only the lender’s interest.
- Who does it protect? Only the lender is covered by the lender’s policy.
A home is the largest investment you will make in your life. Owner’s title insurance is the smart option that protects your property from legal claims. It’s a one-time fee that covers you and your heirs as long as you own your home. The owner’s policy also covers potential legal fees for settling claims against your ownership rights.
A title search is an early step in the home-buying process to uncover issues that could limit your rights to the property.
Under the owner’s title insurance policy, you are protected against any unforeseeable errors in the title. Common errors include:
- Forgery: making a false document; for example, the seller misrepresents the identity of the person who signed the deed.
- 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.
- Human error: inconsistent paperwork and historical records; for example, an unforeseeable discrepancy in the property or fence line can cause confusion in tracking the title history.
Your owner’s insurance policy lasts as long as you or your heirs own the property.
We would not recommend it. There is so much involved in selling a home and so much can go wrong if you are not experienced in the process. Realtors® do this every day and are paid to know the ins and outs. Besides the connections, listing capabilities and advertising expertise that Realtors® can bring, consider the following:
- Buyers will expect you to be available to show the home at their convenience and this can be a hassle. Realtors® take care of this for you.
- Realtors® are trained in the art of negotiation.
- Realtors® take care of the contract and they know the deadlines, the pitfalls and how to avoid them.
- Realtors® are held to a high standard of conduct.