Overview of Title Company Closing Services

A closing title company is used at the closing of the property for the title request. Once all of the details of the home have been ironed out, such as the purchase agreement, the condition of the property, the price, and the financing, it is up to the buyer to find a company to handle the transfer of the title.

When purchasing a home, there should be careful consideration given to finding a real estate professional who can best suit your needs and a mortgage broker to give you the best possible deal. It is equally as important to find a closing company to give you the best service when transferring your title. It’s important to find a company that will work closely with you and the other officials involved in the deal to give you the most stress free experience.

What Does the Closing Title Company Do?

A file is opened with the company when a title transfer request is received. Once this is done all involved parties should receive a letter acknowledging that the request has been received, and a specific representative of the company is assigned who will be working with you. This company then completes a title search. The title search is done to confirm who has legal ownership of the property. The search also confirms zoning for the property – is it zoned for business, residences, agriculture?

Purpose of the Information Collected

What is done with the information gained by the title search varies by region. Some areas require a full history of who the deed has been passed to since the property first sold be furnished to the buyer. This is so that if there is ever a dispute in upcoming years as to whether the property should have remained in someone else’s ownership, the title history will prove that the purchaser has the right to the property.

At times, when a history is not provided, it is generally required that an Owner’s Title Policy be taken out by the purchaser. This insurance policy is unlike any other. The premium is paid up front one time and never paid again. The policy protects the purchaser from anyone who may come forth at any point claiming a right to the property. This insurance passes from current owner to an estate heir, but not from one owner to another purchasing the property. You can get assistance purchasing this policy through the closing title company.

Handling Closing

The process of handling real estate transactions and the closure of a home purchase is often a challenging task filled with legal and financial issues that require extensive attention paid to the minutest details. Escrow services provide the ability to have these things taken care of for you in several ways.

Perhaps the most popular and common purpose is the ability to handle payments that go towards reimbursing the lender and/or the seller. However, escrow services can also provide titles if need be. They can process a title order and take care of all the work on that end to get you the title you need quickly and reliably.

Escrow services represent an honored and proven business that handles your investment with responsibility and dedication to getting things done in a fair and neutral way. Their services can be applied towards all sorts of things regarding real estate and property closure.

They hold the down payments made on residential properties and deliver the money to the respective party when all is said and done. They handle the closure as well, drafting the sales agreements and reviewing it for the parties involved.