The closure cannot take place without the assistance of a title agency. The agency will check for incorrect documentation, do a title search, and order reports to complete the property ownership transfer. Let’s dive deep into the blog to understand “what does a title agency do?”
What Does A Title Agency Do?
Title search and title insurance are two of the most significant services the title agency provides. An investigation of the property’s legal documentation in public records is a title search.
This investigation verifies that there are no outstanding liens on the property, allowing for its sale. You don’t want to buy a home to discover that there are liens on it or that a co-owner hasn’t given their consent to the sale.
Most mortgage lenders will not provide a loan without title insurance. Title insurance can safeguard lenders and buyers against title flaws.
Other Services by Title Agency
· Closing Facilitation:
The closing can take place at the title company’s office, where they can act as impartial hosts and oversee all proceedings. The agency is a neutral third party that favors neither the buyer nor the seller in any transaction.
The goal of the title company is to facilitate the closing of the sale. A title company will accomplish this by gathering and verifying the required paperwork from both parties.
· Administrative Tasks:
The title agency submits the paperwork for the closing to the relevant government agencies. Agency also ensures that the buyer, seller, and mortgage lenders receive a copy of the closing documents.
· Notary and Escrow Services:
Title companies also serve as escrow agents, receiving and dispersing earnest money. As a notary public, they may also help you finalize your legal paperwork.
If you’re doing a by-owner transaction and don’t have any additional real estate specialists on your side, the title company may help you make sure everything is in order with the contract.
FAQs
Q: What Is A Title Agency?
When selling property, it’s important to make sure everything is in order, and that’s what title agencies do. They do it by doing thorough title searches to identify potential problems that might disrupt the seller from closing on the sale.
Q: What Is The Purpose Of A Title Agency?
It is a title firm’s responsibility to determine whether a house buyer may lawfully take possession of the real estate in question.
Q: Who Is The Best Title And Settlement Services Company?
Title Assistants is your best choice for title and settlement services. Title Assistants offer smart support for your company due to their extensive knowledge of title, escrow management, and closing procedures.
