Refund and Cancellation Policy for Platinum Title and Escrow

At Platinum Title and Escrow, we are committed to providing transparent, professional title insurance and escrow services for real estate transactions. Due to the nature of our services—which involve customized title searches, examinations, document preparation, and coordination—fees are generally earned upon performance of work. The following outlines our policy regarding refunds and cancellations:

1. Title Insurance Premiums

Title insurance premiums are one-time fees paid at closing and are fully earned upon issuance of the policy.
No refunds are provided for title insurance premiums once the policy is issued.

2. Escrow and Settlement Services

Escrow fees cover the handling of funds, document coordination, and closing facilitation.
These fees are fully earned upon successful closing of the transaction.
No refunds are issued for escrow services once the transaction closes.

3. Cancellation Prior to Closing

If a transaction is canceled before closing, charges will apply based on the work completed:

No charge if cancellation occurs before any title search or examination begins.

Partial fees (e.g., for title search, examination, preliminary report, or other incurred costs) if work has commenced. These are non-refundable as they represent services already provided.

A standard cancellation fee may apply to cover administrative and processing costs (typically $250–$500, depending on the stage of the process and expenses incurred).
Third-party costs (e.g., recording fees, wire fees, or courier charges already paid) are non-refundable.
Earnest money deposits held in escrow will be disbursed according to the terms of the purchase agreement and mutual instructions from buyer and seller. In case of dispute, funds may be held or interpleaded until resolved.

Any overpayment of funds (e.g., excess wiring for closing costs) will be refunded promptly via check or wire after verification.
Refunds for canceled transactions or excess escrow balances will be issued within 30 days, minus applicable fees.

4. Overpayments or Excess Funds

5. General Terms

All fees are subject to the specific escrow instructions, purchase agreement, and applicable state regulations.
We strive for fairness and transparency. Clients are encouraged to discuss any concerns with their escrow officer prior to opening escrow.
This policy is subject to change and may vary by transaction type or location.

For questions or specific details related to your transaction, please contact your dedicated escrow officer at Platinum Title and Escrow. We appreciate the opportunity to serve you and ensure a smooth real estate experience.