- Title Review
- Review public records and complete the title search.
- Announce interested parties on the condition and status of the property’s title.
- Really the title company is looking for defects to the deed.
- Defects could be property liens or unpaid taxes.
- They put this all together in a preliminary title report. This report serves as a guarantee for title insurance.
- Issuing Insurance Policy
- They will typically issue title insurance policies.
- They facilitate the paperwork for issuing the policy while the actual premium goes to an underwriting company.
- The underwriting company bears the jeopardy of any loss under the policy.
- Facilitate Closing
- They serve as a closing agent for the transaction.
- They also act as an agent for every party to the transaction.
- They also gather all the necessary signatures on all closing documents.
- They hold money and documents related to the transaction, distributing all payments related to the sale.
- They serve as a closing agent for the transaction.
- Escrow Officer
- This is the common role of the title company, again holding all money and documentation
- Once they receive written instructions from the buyer and seller about those funds and where they are to be sent, they disperse them accordingly.
- This is the common role of the title company, again holding all money and documentation
- Paperwork
- The deed is recorded by the title company.
- They also deal with the county records office to file your paperwork.
What Does a Title Company Do?
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