Escrow & Title
An Iowa title company issues a title commitment prior to closing. This commitment represents the title company's agreement to:
APurchase the property if the seller can't close
BIssue a title insurance policy subject to any listed exceptions after closing✓ Correct
CGuarantee the property's market value
DCertify that the abstract is complete and accurate
Explanation
A title commitment (or title binder) is the title company's promise to issue a title insurance policy, subject to the listed requirements and exceptions, once closing occurs and premium is paid.
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