When you purchase a home, a title company will research the property to ensure that you are the rightful owner. They’ll look through records for anything that might cause problems—ownership disputes, restrictions, unpaid taxes, liens, and more. Their goal is to document the chain of title and identify any issues that could become major problems down the road.
At the end of the process, the title company issues a title opinion. This is a legal document that states that the title is valid. The title opinion is part of obtaining title insurance. The insurance protects both the owner and the lender if there is a title dispute. If another party is actually the rightful owner of the home, your title insurance protects you from financial loss.
In addition to title opinions and title insurance, title companies also handle escrow accounts and distribute money to the appropriate parties at closing. They’ll also deliver closing documents to the appropriate agencies.
Author:Lynda Western Phone: 602-919-0857 Dated: January 9th 2017 Views: 690 About Lynda: A family oriented person, Lynda has a passion for helping people in unfortunate situations. An Ariz...
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The partners of Re/Max Preferred Choice specialize in both the purchase and sale of residential and commercial real estate, as well as providing property management services. We have been in business since 1996 and have a long history of providing exceptional customer service to our agents.
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"We met Justin Schlegel a few years ago and liked him from the start. We called him to sell our house and he exceeded our expectations by doing so in 2-days! Justin's knowledge about the current housing market and even the construction aspect are second to none. Then, in August of 2015 we used Justin to purchase our new home. Justin again did not disappoint. Justin's knowledge of the area is impressive. I never had to wait to have a question answered as I think Justin has his phone with him 24/7 :). I highly recommend Justin Schlegel to anyone looking to buy or sell a home. Thanks again Justin!
Chad & Janice in Peoria, on behalf of Justin Schlegel