A title company helps with the many legal documents and contracts in a real estate transaction. One overlooked detail can delay or even scuttle the sale, which is why these agencies are helpful.
They provide various services, including conducting a title search and insurance to protect lenders against future property claims. Working with a Sebastian, FL, title company in your real estate journey has benefits.
Expert Advice
The experts at a Sebastian title company serve as advisors throughout the real estate process. They can help you avoid future problems by identifying potential issues with property ownership. For example, liens on a property can prevent the transfer of ownership to a buyer. A title company can research these issues and work to resolve them before they occur.
For example, a lien could be placed on a home by a contractor who hasn’t been paid or by the court after a judgment. A title company will research to ensure the deed belongs solely to the seller so they can transfer it to the new buyers. This ensures a smooth closing process without any surprises down the road.
Streamlined Closing Process
A real estate deed is a legal document that transfers the property ownership, rights, and privileges of a home or land from one party to another. It is essential to ensure that the person selling a property is the valid owner and that no outstanding issues, such as liens or judgments, will carry over to the new owner. A Sebastian, FL Title Company will search the title of a property to ensure that it is free of such issues before the closing process.
Access to Title Insurance
A title company searches public records to determine property ownership. They can also survey the property. This information helps to prepare a title report and offers title insurance. This protects the new homeowners and the lender from claims against their property. Claims could include forgery, unpaid taxes, liens, judgments, and other issues that should have been discovered during the title search.
There are two types of title insurance: lender’s and owner’s. The lender’s policy protects the mortgage lender’s investment and is required by most lenders. The owner’s policy is optional.
Premium policies are available to provide expanded access coverage that goes beyond the standard owner’s policy by covering actual vehicular and pedestrian access based on legal rights. This type of coverage is essential to real estate developers and investors.
Legal Advice
A title Company can help you understand the law related to real estate. The company will ensure that you are the sole owner of your property and that no liens or other issues that would restrict your use of the property are carried over from the seller to you.
They handle premises liability cases and have helped people injured on another person’s property. Premises liability laws are complex, but attorneys can help. They can explain your rights and ensure you receive the compensation you deserve.
Convenience
A title company serves a pivotal role in real estate transactions. They are responsible for conducting meticulous property searches and ensuring a clear legal transfer of ownership. They also provide buyers and lenders with vital protection against unforeseen issues.
A reputable title company will offer various services to streamline the closing process. They should be able to conduct comprehensive title searches and examinations, issue title insurance policies, and act as escrow agents.
