What Does a Title Agency Do?
April 19, 2018Buying a new home is one of the biggest decisions many of us will ever make. Not only is it a huge financial commitment, but the amount of work that goes into the process is extensive. From the beginning stages of looking for the right home and throughout the negotiating and purchasing process, buying a new home can be a challenge. When you are ready to buy a new home, going through a title agency can alleviate all of the stress associated with buying a home.
What Is a Title Agency?A title agency is a company that helps ensure a property can be legally sold. They do this by performing extensive title searches to locate any issues that might arise to prevent the seller from being able to sell the property. These searches can often turn up information the seller may not have even been aware of. The title agency handles the many facets associated with the sale of a home or any other property. A title agency is the assurance both the buyer and seller need to enter into a real estate agreement with confidence, which immediately helps make the process of buying or selling property that much less stressful. If you've ever asked the question, what does a title agency do, you may find yourself surprised to learn just how much of the essential foundation and leg work a title agency handles in a real estate transaction.
What is Title Insurance?A title agency provides title insurance. Title insurance is a type of insurance designed to protect the buyer of a property. When you purchase a piece of land or a home, there are several things that you, as a buyer, need to protect yourself from. The added expense of title insurance can be justified by the assurance it can provide to the buyer in a real estate transaction.
When you purchase a home or property, you get a title. If you are buying a home or property, you will make the assumption the seller has complete ownership of the property and the right to make a transaction with you. Unfortunately, there are several factors that can come into play that might prevent that from being the case. Unless you have the time, the knowledge, and the resources to do the leg work it takes to ensure the property you're buying is free and clear to be sold, you run the risk of running into an issue with the title not disclosed by the seller.