I’ve touched upon the role of title companies in previous articles, but I believe they deserve a dedicated post for the crucial part they play in your transaction. They are your invisible warriors, ensuring your real estate deal is clean, fair, and legal.
Title companies conduct a thorough search of the property’s records to ensure that the title is free and clear of liens and claims. They dig into decades-old documents to verify that the ownership trail is unambiguous. This protects both the buyer and the seller from future disputes over the property.
In addition to this, they handle the escrow. They hold the earnest money and distribute it according to the terms of the contract. Furthermore, they prepare all necessary closing documents and facilitate the final transaction, including the transfer of funds.
Remember, title companies should act as impartial third parties. They should not show undue favor to either the buyer or the seller. If you ever feel that the title company is not acting in this manner, don’t hesitate to voice your concerns.
Choosing a reputable title company is paramount. Although many investors have preferred partners, do your due diligence. Ensure they have a clean track record and positive reviews. After all, they are the invisible warriors, guarding the integrity of your transaction!