The title company is one of the players you’ll deal with when buying a house. A title company’s job is to make sure that the buyer of the house has the rightful title to the property. They ensure that the seller has the authority to sell the property to a buyer. To address buyers’ and lenders’ concerns regarding clear titles, a title company offers a variety of title services.
Let us look at the importance of hiring a title company:
Real Estate Transactions’ Closing Agent
Title companies typically act as the real estate transaction’s closing agents. As a result, the title company serves as an intermediary on behalf of all involved parties. The title company receives and distributes payments related to the conveyance transaction as well as obtains signatures on all closing documents in its capacity as an agent. The title company will record any necessary documents, such as mortgages and deeds; in the county, land records office after all parties have signed them.
Acting as an Escrow Officer
When it comes to real estate transactions, title companies frequently serve as escrow officers as well. As part of the transaction and by the parties’ instructions, an escrow officer holds money or documents. As the escrow officer, the title company only releases the money and the deed by the written instructions of the buyer and seller.
Title Insurance Issuer
Title insurance policies are issued by title companies on their behalf. By and large, the title organization that gives the strategy isn’t the insurance agency. Instead, the title company simply receives a commission for issuing the title policy and acts as an independent agent for the insurance company.
Bronson Abstract Company, Inc has the expertise, experience, and technological know-how to give you the personalized service you deserve with the care you need. Bronson Abstract Company is a family-owned and operated title company that serves Springdale, Bella Vista, AR, Rogers, AR, Bentonville, Fayetteville, and AR areas on taking care of you.