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Does the Seller Need a Title Company in Florida?

December 10, 2023

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Many expectations are placed on the seller in a real estate transaction. Standard practices like property inspections and title searches are meant to solidify the seller's commitment in the eyes of potential buyers. That's why most buyers secure a local title and escrow service early on, sometimes before they're even done reviewing all property listings.

Large sums of money go into real estate purchases, and transactions formally begin after buyers deposit the earnest money in the escrow account. In other words, it's not hard to guess the risk buyers face after presenting their offer.

But sellers have a lot to lose as well, and sometimes a single misunderstanding is enough to start a conflict.

Advantages of Hiring a Title Company

Neither buyers nor sellers are expected to hire a title company, from a legal standpoint. Still, a vast variety of people go into the process with the plan of hiring an expert in the field to guide them along.

A Man Showing Documents to a CoupleIt's highly encouraged for sellers and buyers to choose different realtors and escrow agents to oversee the process. You may feel overwhelmed by the prospect of involving so many people in the transaction, but having multiple neutral parties can actually boost transparency and an organized process.

In any case and contrary to what some people may believe, sellers don't have the authority to choose the buyer's title company. This doesn't mean that there can't be feedback between both parties. In fact, constant communication helps ensure that all requirements are met on time, without any scheduling mishaps.

How Title Companies Help Sellers

As mentioned earlier, title searches and other record evaluations are primarily meant to safeguard the buyer's investment. Still, sellers can earn a lot of good faith from showing an open disposition through each of these steps.

One way to do this is by letting the real estate lawyers and agents review the documents without slowing down the process. This way, the seller's honest intentions will not be put into question in the event of discrepancies in the property title.

A title includes information on all the times a property has changed owners. It's not easy for sellers to verify past ownership deals on their own, even with the information available on public records. In addition, some instances of fraud are harder to spot without the right technology and up-to-date knowledge about real estate scams.

With a licensed real estate company on their side, sellers can protect their credibility if the title search shows something shady. Any suspicion of fraudulent activity not only makes way for legal consequences; it also creates a terrible precedent if you have other projects in the local real estate market.

Last but not least, real estate agents can lead the negotiations when any of the contract terms isn't met. This will all reduce the chances of sellers having to cover the total costs of a failed transaction.

The Role of a Title Company

Now, that we've outlined the importance of hiring a title service, let's go into the specifics. Which tasks can you trust your title company with?

As a neutral party, the title company can oversee all the steps of the transaction, from offer to closing. Of course, you should check the company's list of services beforehand, as some of them only specialize in a limited number of real estate services.
Still, these are the ways you can use their assistance, as a seller:

  • First of all, your title agent can help you take the correct actions if the title search reveals errors or encumbrances. They can also review the property title in advance to protect your peace of mind during the negotiations.

  • They check that buyers make the initial deposit on time, as well as any required payments in between. This assistance goes all the way to the downpayment upon closing.

  • They can give advice on insurance policies and mortgage plans.

  • Three People Looking at Statistics
  • On the topic of deposits, your real estate agent can help when it's time to divide the costs evenly between buyers and sellers. Local conventions are relevant on this end; your agent can ensure you're not saddled with costs that usually go to the buyers.

  • Title companies keep tabs on many separate aspects of the closing process, including the signatures in all related documents. They check that all payments are in order and record both the closing statement and the mortgage.

  • If you as the seller hire a title company independently from the buyer, you can count on your agent's undivided attention. They won't have to split their effort evaluating the items on the contract from the other party's perspective.

The specialists at Key Title & Escrow understand Florida escrow transactions inside and out. This means that we can ensure a safe, satisfying process. This extends to sellers, buyers, and lenders wishing to protect their investments.

Our results always exceed expectations, even after years of providing title and escrow services in all parts of the local market. There's no need to expose your money and property to shady practices, we're here to protect your best interests. So, feel free to call (305) 235-4571 or toll-free at (800) 547-0006 if you want to keep your transaction on the right track. You can also use the contact form on this page to clear any doubts. We have the most knowledgeable escrow experts on board, and they're ready to provide the best assistance.
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