WHATis aTITLECOMPANY?

TITLE SEARCH

performs a

A TITLE COMPANY

A title search ensures when the buyer of the home procures the title they will legally be the homeowner. A title company will make sure there aren’t any claims on the property, like outstanding mortgagees, unpaid taxes or utilities.

PROPERTY SURVEYperforms aA TITLE COMPANY

A property survey draws out the property

lines to see how large the piece of land

is and if neighboring properties have

encroached upon the property lines.

TITLE OPINION

writes aA TITLE COMPANY

After completing the title search and property survey, the title company creates a legal document stating the title is valid and available to sell to the buyer. This document is called the Title Opinion Letter.

TITLE INSURANCEoffersA TITLE COMPANY

A title company offers two forms of title

insurance: lender’s and buyers. This

protects the buyer and lender from

disputes over home ownership.

HOME WARRANTY

picks aA TITLE COMPANY

Sometimes a seller includes a home warranty on the home to protect the buyer from paying exorbitant prices on appliances and systems that have failed from normal wear and tear. The title company may choose what home warranty to purchase.

ESCROW AGENTacts as anA TITLE COMPANY

The title company prepares all legal

documents and explain them to the

buyer and seller. Then they collect the

money from the buyer and seller and

make sure the money is transferred to

the correct parties.

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