According to a Forbes article, up to 30% of all titles have defects. As a result, having a title company to ensure your house will have a clean title is crucial to a stress-free purchase. Here at Prominence Title, we work diligently to make sure our title insurance services give you the house-buying peace of mind you deserve. But how does title work for you? There are a couple of crucial steps we take to ensure a clean title and closing.
Once we have a contract from a real estate agent, our underwriters will do a thorough search of the property history, owners of record and liens of record on the title. This also includes judicial court proceedings and law. They comb through the home’s history confirm every detail has been addressed.
Some issues they may find include:
- Unpaid taxes
- Incomplete history of title transfers
The underwriters send the title history report a us for a detailed review.
Title Agent duties
Title agents are there to make sure all title issues are fixed before closing on the house. Based on the title search results, we work to negotiate any payoffs, liens, estoppels or commitments that may be attached to the house title. We also make sure that lenders, buyers, sellers and real estate agents submit all necessary paperwork on time. After all, we’re here to ensure the buyer walks away from the closing with a house that rightfully belongs to them.
The job of a title agent is subtler than that of our underwriters, but we want to issue title policies to benefit all the parties involved.
Picking a title company
Buying a house is one of the biggest commitments you’ll ever make. The mark of a good title agent is to make your closing experience pleasant and stress free. We at Prominence Title constantly communicate with all parties throughout the transaction to ensure a smooth and timely closing. Prominence Title wants to celebrate your closing event with you and make it a unique, memorable encounter.
It is very important to not only trust your real estate representative’s choice, but to look at testimonials for different companies before the searching begins in order to present the option to your lender and real estate agent.