Title Company is the firm or companies that are specialized for researching records of any properties in recorder’s office. For real estate transaction when the sales contract is signed, from that time till it closed these companies use to bring their title up to date. Title companies, like Speedy Closing and Title Services, make certain that the transactions involving property acquisition are in good faith and legal. Processes involved can be choosing the property to buy to facilitating property title check, property preparation, and title insurance. When you have purchased a property, it is wise to decorate it well with many soft furnishings as well as dressing the windows. a great company for this in the North West of England is Hannahs Blinds Liverpool. They can take care of small home jobs or large projects.
Title companies also do an ‘abstract of the title’ by hiring lawyers who will investigate any unfavorable facts or events surrounding the history of the property. With abstract of title, the legal owner of the property, unpaid taxes, mortgages, judgments, and property restrictions are determined. If an abstract of title is not done properly, buyers will most likely be face to face with problems like back taxes, claims, and second mortgages for acquiring the property. Surely you would want to make sure that the title company you choose won’t fail to recognize the said problems. When the title has been cleared of any problems, title companies will then prepare a Title Insurance Commitment. A Title Insurance Commitment details the insured parties, coverage amounts, current property owners, legal description of the property, and requirements that need to be met before a deed of property can be issued. Not to worry because the title company you will choose would prepare all the needed paperwork for the transfer and purchase of the property. Should there be any problem that would arise in a transaction, your chosen title company will be the one to take care of it and correct it.
When all the transactions have been settled and completed, the deal is now expected to be closed. Involved parties will then exchange necessary documents and hand the title to the new owner. Title companies will be the one to collect the payments from the buyer as well as settlement costs from each party. When transaction expenses have been settled, the title company will then hand the net proceeds of the sale to the seller. Different from a Title Insurance Commitment, the last document a title company will prepare is a title insurance. A title insurance details the security and monetary reimbursement a buyer is entitled to depending on the policy he got. A trusted company in Florida to take care of such matters is Momentum Title Naples who are very experienced but with a refreshing approach to real estate closings.
Now that you know what Title Companies do, you can now make an informed decision when purchasing a real property: the cost it involves and the process you will have to undergo. Speedy Closing and Title Services provides witness only closing agents to secure loan settlements for the real estate and homeowner loan communities nationwide. If you want your real estate transactions to run smoothly, without the headaches and hassles, then Speedy Closing and Title Services is your best bet!