Title Company 4-11
6 years ago
Are you buying your first home and new to the business of real estate? What should you know about title companies?
A title company, also known as an escrow company, is a third party in a real estate transaction (Buyer, Seller, Title Company). The title company coordinates the escrow process, and follows the instructions for closing the transaction as stipulated in the purchase agreement. It ensures that everything is in order before the buyer and seller close the sale. The buyer is generally the party that chooses the title company, but not always. The title company is considered a neutral party in the transaction and is charged with handing the purchase contract, documents, coordinating financing, and holding any earnest or other funds. It also ensures that all conditions of the purchase contract are met before the sale closes.
Choose your title company carefully. Get reputable referrals. Also, make sure that you check the title company’s fees as they can vary.
If you are buying or selling a home and need competent and caring representation, please call me at 801-244-4166