One important element involved with the home buying process is hiring a title services company. Every home purchase involves a house title. This title shows previous owners, includes a physical description of the place being purchased, and reveals if there are any liens against the property.
The bottom line is that a title company serves as an advocate for you. It protects you from potential lawsuits or claims from a past owner. The title company performs searches and provides title insurance for the property you’re buying. A title company will ensure that the property will be yours… free and clear.
A title company accomplishes many tasks to help you. They include:
This search provides the entire history of the home.
The survey provides powerful information to help you make an informed decision on probably the biggest purchase of your life.
Both the lender and the buyer are provided insurance. You may wonder why the lender receives insurance in addition to you, the buyer. This is because the lender also holds a financial interest in the property.
A title company ensures that the wording is crystal clear on explaining who has the right to transfer ownership.
The deed is completed and the final closing is performed by the title company.
If you’re going to be using an escrow account, a title company manages it for you as a third party.
If you need assistance with closing and/or title work Wright Realty is happy to make some recommendations on trusted service providers:
TLC Closing | a Division of the Tennessee Law Center, PLLC