What are the title company’s responsibilities during a real estate transaction? Find out here.
In a real estate transaction, the title company takes the contract for your transaction and does a title search to make sure there are no liens, back taxes, or anything else that can encumber your transaction. Once they do, they’ll issue you a title commitment and send a copy to your lender and agent.
The title company also handles the monies at the time of closing, including wire transfers and down payment funds. They act as a fiduciary between buyer and seller, paying off taxes, commissions, and mortgages on their behalf, as well as making sure that any liens are satisfied so that the transaction can go smoothly for all parties involved.
If you have any questions about title or real estate in general, don’t hesitate to reach out to me. I’d be happy to hear from you.