Title Agency Agreement To Protect Your Real Estate Investment
- Posted by Javier Cubas
- Posted in Property Title Insurance
Title companies play a significant role in real estate transactions. These companies can save you from several legal issues and complications that you may be unaware of. The primary role of title companies is to verify title deeds and ensure that the rightful owner of such property is selling the property. The title agency works with buyers to inspect the title deeds of the relevant property.
The title deed contains details such as the history of property ownership, the property’s boundary limits, and other relevant specifications. Title companies help buyers avoid real estate scams by unauthorized sellers who do not have actual legal ownership of the property.
Enhanced Clarity Levels
Real estate terms and jargon might be too complicated for non-specialists to understand. The title company will help ensure that the legal owner of the property is transferring the property. Title company experts also understand the legal significance of relevant government seals and stamps on the property.
The experts will go through the details provided in the deeds and other relevant documents and ensure that all relevant documents are free of issues. In other words, the title company’s role is to guarantee that the property has a “clean title.”
Helps Buyers Choose Insurance Agents
Insurance is critical to real estate transactions. Buyers invest a large volume of funds in the property they seek to buy. Most buyers even spend their life savings on their dream property. The title agency helps buyers choose the right insurers to insure the property and the real estate transactions.
Negotiations with Lenders and Banks
Title companies can enter into discussions with banks and other financial lenders. The title company can help buyers choose suitable financial institutions to work with. The agency will help you coordinate and communicate with lenders, understand legal lending documents, choose the best financial schemes and help you structure your investment to minimize tax costs.
Perform Necessary Inspections
The title company will perform necessary inspections to ensure there are no outstanding issues. Problems relating to unpaid taxes, unsettled disputes, assessments, and other legal complications could crop up later after the transaction is complete. The property you intend to buy may come with liabilities like unpaid interests.
The title agency takes an in-depth look into all legal facts that surround the property. The experts will disclose any discrepancies immediately. Agencies typically present buyers with a detailed report on their analysis of the property.
Title companies also serve as escrow officers to parties that are part of the real estate transaction. They hold money or necessary documents until the transactions are complete. You can ask your title company to fold funds until the transaction is complete.
Contact Us if You are Looking for a Reliable Title Agency
Nationwide Title will work as your trusted closing agent until the closing process is complete. To explore our range of title services, visit our website or contact us at 888-308-6465