What Does the Settlement Company Do?
June 28, 2019Purchasing a home entails a long process that begins with the selection of the home or property and ends in the moment the key and deed to the property exchange hands. This process can bring along a lot of headaches, sometimes causing a lot of stress in an experience that should be a joyous one. That's why it's so important to have a settlement company to help handle all of the details and facilitate a smoother, less stressful closing on your property. So, what does the settlement company do?
What is a Settlement Company?A settlement company can also be known as a real estate closing company, a title company, or an escrow company. The purpose of a settlement company is to help with the closing of the property being purchased. Not all companies handle every aspect of a closing. Some companies specialize in escrow services, some may just supply title insurance, and other companies may do title searches. A company can do any combination of services related to a real estate closing. Ideally, a good settlement company will offer a range of services all in one place, making it possible to have one company handle every detail of the closing. This is certainly the most convenient way to get it done.
Here are some of the important responsabilities of a settlement company:
- Conduct a title search: A search is made to ensure a title is free and clear and that the property can legally be sold. Any issues with a title are known as "clouds" on the title. Any clouds on a title must be settled before the property can be sold. A good settlement company or title company will be able to perform these searches.
- Issues title insurance: In most cases, if a title search doesn't turn up any issues with the title, the sale of the property can be legally sold without an issue. Sometimes, though, regardless of how thorough a title search is, it's possible that an issue might not present itself until years down the line. This insurance protects the buyer against this situation, limiting their losses. While the buyer isn't required to have the protection for themselves, they will be required by a bank or a traditional lender to purchase lender's title insurance to protect the bank against losses. It's always a good idea to get the title insurance, which is a one-time payment that will give the buyer peace of mind.
- Closing Service: A good settlement company can fulfill the role of a closing agent and escrow officer. While not all companies are equipped to do this, many companies are set up to handle all roles in a real estate closing. When you find a company that can handle everything related to a real estate closing, you can rest assured you will have an all-around better experience. There will be less running around trying to get things done, less trying to figure out what needs to be done, and less chance that something will be overlooked. In short, a settlement company can help you protect your investment.
Key Title & Escrow is a title and escrow company in Florida that can handle every aspect of a real estate closing on a professional level. We pride ourselves on being equipped to offer you the best real estate closings in Florida. Key Title & Escrow is the right choice for all your title and escrow needs. That's because our goal is to provide you with all of the title and escrow services you need in one place to streamline the entire process for you. Our services include essential closing services, property title searches, searches for judgements and liens, record owner searches, and Florida title insurance. We also offer a full range of escrow services as well, meaning we will be able to assist you throughout the entire process of purchasing and closing on your home.
We've been serving the real estate industry for over 23 years, during which time we have developed a solid reputation as leaders in efficient, professional closings. We've developed relationships that demonstrate our solid commitment to excellence in everything we do. At Key Title & Escrow, we take pride in our closings because we work hard to provide real estate services and customer service that adheres to the highest set of standards in the industry. Our fast, reliable service and our commitment to excellence is the cornerstone of everything we do.
When you are ready to close a new home in Florida, we have the full range of title and escrow services you need. The quality of our service, our commitment to the real estate industry and our customers, and the relationships we've built in Florida are testament to our ability to provide you with the best closing anywhere. It doesn't matter if you are a buyer, seller, or realtor, we offer the services you need and the convenience you require. We offer after-hour closings and weekend closing to help you fit your closing into your schedule. That's just one more way we strive to make your experience the best it can be.
When you decide to use Key Title & Escrow, you're choosing to use a Florida Title Company that can handle any closing efficiently while giving you the best customer service anywhere. That's because we are a big enough company to handle any closing with professional results but small enough to give our customers the personal attention they deserve. At Key Title & Escrow, your satisfaction is our number one goal. We will provide you with the absolute best in closing services in one place. While buying a home can be stressful, having the best title and escrow company handling all of the details for you can make it a more pleasant and successful process. When you are ready to close on a home, call Key Title & Escrow at (305) 235-4571 (local) or toll free at (800) 547-0006. We are the best title and escrow company in Florida.
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