Understanding the Role of a Title Company

UNDERSTANDING THE ROLE OF A TITLE COMPANY SALE WHAT DOES A TITLE COMPANY DO? ADDITIONAL SERVICES TWO MAIN PURPOSES Title companies also have escrow 24 accounts with the money needed to close on the Does research to make sure the title to a property is legitimate property A title company agent may be present at closing with all pertinent Issues insurance that protects the owner or lender documents and against property claims payments DETERMINING THE LEGITIMACY OF A TITLE TITLE SEARCH OUTSTANDING CIRCUMSTANCES A title must be legitimate for the buyer to know they are the full owner of the property The search looks for existing mortgages, liens, or outstanding taxes on the property A title search ensures A title company may conduct a survey to delineate property boundaries and prevent any potential issues that no one else has a claim to ownership A LOOK AT TITLE INSURANCE CHOOSING A TITLE COMPANY WHY YOU NEED IT Protects you against any ownership disputes that may arise Talk to your real estate agent or attorney for recommendations on title Both home buyers and home lenders companies title insurance Either the seller or buyer pays for the lender's title insurance, depending on local regulations Be sure the company is very experienced and that others have had positive interactions PROVIDED BY: OCORE COMPANIES WWW.CORETITLE.COM SOURCES: http://www.zillow.com/mortgage-learning/title-company/ http://homeguides.sfgate.com/title-company-closing-occurs-38789.html http://homeguides.sfgate.com/title-company-do-36108.html http://www.coretitle.com/closings-101/