A title company plays an important role in real estate transactions. It provides a variety of services, including researching and verifying the legal ownership of the property, preparing all closing documents, dealing with mortgage companies and lenders, ensuring that all taxes are paid, and providing title insurance. Let’s take a closer look at what they do.
What Does a Title Company Do?
A title company ensures that the transaction is lawful and that there are no claims or liens on the property being sold. They will also research to make sure that the seller has legal ownership of the property and that there are no hidden issues or potential problems with the sale.
The title company will also prepare all closing documents for both buyers and sellers. This includes deeds, mortgages, purchase agreements, tax forms, loan documents, etc. They will also coordinate with mortgage companies or lenders to ensure that all necessary paperwork is in order prior to closing.
Finally, they will handle all tax payments and provide title insurance to protect both buyers and sellers from any potential legal issues related to the sale. This includes things like liens against the property or other claims by third parties who may be entitled to some portion of the proceeds from the sale. By buying title insurance, both buyers and sellers can feel secure knowing that any claims arising after closing will be handled by the insurance company.
Title companies play an important role in real estate transactions by ensuring legality of transfer as well as accuracy on all documents related to it. They provide important services such as researching ownership of properties; preparing closing documents; dealing with mortgage companies/lenders; handling tax payments; providing title insurance coverage; and protecting buyers and sellers from potential legal issues related to purchase or sale of a property. For anyone looking to buy or sell a home in today’s market, it is essential to work with a reputable title company who can provide these services in an efficient manner while keeping costs low for both parties involved in real estate transaction.
Special thanks to Andi Snedden for joining us on this episode. Her expertise and insights are invaluable.