This post was last updated on July 12th, 2021 at 08:23 pm
Selling your house fast is easier with a good Title Company. But what exactly do they do? What do they contribute to the overall process? And why do you need one?
Let’s take a look at all the things a Title Company can do for you. You may be surprised at just how much they do to be sure your transaction goes smooth!
What Is A Title Company?
A Title Company is a company that handles real estate transactions. They are the professional team that takes a Purchase Agreement and turns it into a transaction!
It’s usually a small businesses which is privately owned. You will find some have several branches. Others may have a single office. More importantly it would be impossible to sell a house without them.
What Is The Title Company’s Job?
The first step in selling your house is making a deal. But what happens after that? This is where the Title Company takes over.
Once the Purchase Agreement has been signed the Title Company gets to work. They start by creating a file containing the information of the buyer, seller and lender. They will put a copy of the Purchase Agreement into the file to be used later.
Abstracting
The first thing will be to order the Abstract of Title. Once it has been ordered it will be updated and certified. After this a Title Examiner will go through the Abstract. They review the documents and conduct a Title Search to be sure the seller has marketable title.
They will also be looking to see what may need to be taken care of at Closing. Things like mortgages, liens and back taxes will need to be paid at Closing. A list of things needed to complete a Closing is created. After all of these things are reviewed the Title Examiner will issue a Title Commitment.
Coordination
Title Companies have a large staff. Different people do different jobs. One of the main jobs is coordinating. The Title Company needs to be sure everything comes together nicely. That means making sure liens are paid off. Getting paperwork to banks and lenders on time.
There are also documents that need to be made prior to closing. Deeds and Closing Statements need to be created. Numbers need to be double checked. All of this takes a lot of time and effort. Title Company employees work hard to coordinate Closings.
Escrow Services
Title Company’s also provide escrow services. They hold all of the funds.
After Closing they send the funds were they need to go. They will send money to pay off existing mortgages and liens. This is done to be sure that everything that needs to be paid gets paid.
The buyers and sellers don’t actually touch the money. Everything else gets paid first. After those payments are made the sellers are sent any money that they are due. Usually this is done with either a check or a wire transfer.
Closing Services
When everything is properly prepared a Closing will be arranged. At Closing the buyers and sellers meet with a Settlement Agent. The Settlement Agent will explain the paperwork and gather the required signatures.
They will show you exactly what money is going where. They will also answer any last minute questions you may have. Once the Closing is complete the Title Company will make sure that all of the documents get properly filed.
How Do You Pick A Good Title Company?
You want to be sure the Title Company you work with will help you. First look at online reviews. Then referrals from friends and family.
Not all Title Company’s are equal. Be sure you work with one that will meet your needs. Don’t be afraid to ask questions and get to know the staff! If they have a great reputation and great customer service you’re on the right track.
181-Close-Now buys a lot of houses! We have worked with many different Title Companies. Here are just a few that we can highly recommend!
Photo courtesy of Old Republic Title Company
Does 181-Close-Now Work With Title Company’s?
Selling your house fast is easy with 181-Close-Now. We work closely with the Title Company to make sure things get done FAST! Our Closing Options Analysts go above and beyond to get your file to the front of the line. This means we are able to close faster than other homebuyers!
Be careful! A reputable homebuyer will ALWAYS have a proper Closing. If someone tries to buy your house without doing title work or having a Closing something is wrong. Title work protects the sellers as well as the buyers. 181-Close-Now will NEVER ask you to sell a house without a formal Closing and proper title work.
Sell Your House Fast With 181-Close-Now
See just how fast and easy selling your house can be. Just give us a call at 181-Close-Now or fill out our Sell My House Fast Contact Form. One of our Closing Options Analysts will help you every step of the way. You can also fill out the form below. Your privacy is always protected and there is no obligation.
As Featured On
When you sell your house to 181-Close-Now you are working with the most experienced home buying team in Oklahoma. We’ve been featured on NBC News, Fox, The CW, ABC News and many more! Our team has the experience to make selling your house fast for cash as-is easy and stress free!
Get In Touch With Us
Even if you aren’t ready to sell your house you can still get in touch. Questions or concerns? Our team is here to help! You can use our Contact Us page, call us at 1(812)567-3669 or email Support@181closenow.com Or just send us a quick message: