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: 703 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.
One of the first decisions that must be made in the home buying p
Everything went smoother than I could ever imagine! I won't use another Realtor®. Justin Schlegel helped us buy & sell at the same time and was able to negotiate dates that worked out perfectly. I was nervous about the process, but am amazed at how well it went.
James & Brandy in Glendale, on behalf of Justin Schlegel