A title commitment is a title company's promise to issue an insurance policy once specific conditions are met, and it lays out exactly what those conditions are along with anything the policy won't cover. It usually shows up early in a Spokane real estate transaction, well before closing, and it's one of those documents buyers often skim past without realizing it's actually telling them something important. Here's what's inside it and what to actually look at.
What Is a Title Commitment?
A title commitment, sometimes called a preliminary title report, is a document a title company issues promising to insure a specific buyer or lender once certain requirements are satisfied by closing. It's not the insurance policy itself, it's a preview of what the policy will look like once the deal is ready to close. In Washington, most commitments follow the standard ALTA Commitment for Title Insurance format, with a Washington specific modification, so the structure is fairly consistent no matter which title company issues it.
What's in Schedule A?
Schedule A contains the basic facts of the transaction: the commitment date, who the proposed insured is, the proposed policy amount, the type of estate being insured, who currently holds title, and the legal description of the property. This is the section worth checking first. Confirm the proposed insured's name is correct, the property's legal description matches what you're actually buying, and the current vested owner is who you expect it to be. Errors here are usually simple to fix, but only if you catch them before closing.
What's in Schedule B, Part I?
Schedule B, Part I lists the requirements that must be satisfied or waived before the title company will actually issue the policy, and it's essentially the to do list standing between the commitment and closing. Common requirements include paying off an existing mortgage, recording a deed, resolving a lien, or providing an affidavit confirming certain facts about the property or the parties involved. If a requirement in this section doesn't get resolved, it typically becomes an exception on the final policy instead, meaning the issue simply isn't covered.
What's in Schedule B, Part II?
Schedule B, Part II lists the exceptions, specific items the title policy will not cover, and this is the section that deserves the closest read. It typically includes standard exceptions common to most properties, along with anything specific to this particular property, existing easements, restrictive covenants, unrecorded rights of parties in possession, or matters a survey might reveal. Standard exceptions are usually boilerplate, but property specific exceptions are worth understanding, since they identify real limits on what your policy will actually protect against.
How Long Is a Title Commitment Valid?
A title commitment includes its own expiration period, commonly around 180 days, though the exact window is set by the specific title company rather than a single fixed statewide rule, and if the Schedule B, Part I requirements aren't met within that window, the commitment can terminate. This matters most in transactions that drag out longer than expected. If your closing gets delayed significantly, it's worth checking the specific expiration date on your commitment rather than assuming it's still valid.
What Should You Actually Check When You Read Yours?
A few specific things worth reviewing every time:
- Confirm your name and the property's legal description are correct in Schedule A
- Review every item in Schedule B, Part I and understand what still needs to happen before closing
- Read Schedule B, Part II carefully, especially any exception specific to this property rather than the standard boilerplate
- Ask your title company or agent to explain anything you don't understand rather than assuming it's fine
What Does This Mean for Buyers and Sellers in Spokane?
A title commitment is one of the more overlooked documents in a transaction, but it's worth an actual read rather than a skim, especially the exceptions section. Emiley and Zech at Rios and Co Real Estate can help you understand what's typical for your specific property and flag anything in your commitment worth a closer look before closing.
About the Authors
Reading the fine print is part of the job. Emiley and Zech at Rios and Co Real Estate walk buyers and sellers through documents like the title commitment well before closing, so nothing in Schedule B is a surprise on signing day.
This article is for general informational purposes and does not constitute legal advice. Title commitment formats and requirements vary by title company and transaction. For guidance specific to your closing, consult your real estate agent or title company directly.
