Why Do I Need A Title Company?
A title company is more than just a place to close your property. The role of a title company is to verify that the title to the real estate is legitimately given to the home buyer. Each state has specific laws and regulations when it comes to how your property is closed and who is part of the process. You will want to call a local title company or real estate lawyer to find out specifics in your state.
When Should I Start Title Work?
The question of when to order title work is an easy one:
As Soon As You Decide To Sell.
What To Expect During The Title Process
In the real estate industry, there are many moving pieces involved in every transaction. plenty of paperwork, many hands touching things associated with your property from the title company to the mortgage company to other city and state agencies. Mistakes will happen and these mistakes can cause delays or cause deals to fall apart.
Your title report is like the credit report for your property. You want it as clean as possible and only things you know and have permitted attached to it. CLEAN and MARKETABLE TITLE can save you time and make your home sale smooth and easy.
Common Things To Look For When You Get Your Title Ordered
- Liens – If You Have Taken A Mortgage Or Other Financing On The Property
- Liens – Are There Any Liens You Do Not Recognize
- Taxes – Are There Any Past Due Taxes Owed
- If You Have Paid Taxes, You Can Just Provide Proof To Title Company To Clear This
- Ownership – If The Title Is In The Seller’s Name
If there are errors on the closing package you will need to work with the title company in order to clear the title error.
Sometimes you will bring in the previous title company (whom you used to purchase originally) for flags that should have been cleared before.
If there are issues to clear, the title company will be able to guide you as to what is needed to clean up the issues.
The title company knows their business, so take their advice. Lawyers can be expensive, but a good team can help guide you, and save you money.