Who Chooses the Title Company in a Real Estate Transaction?
We know the process of buying or selling property involves a lot of moving parts. By the time our clients get to the closing table, they can often be a combination of relieved and exhausted. We’re thankful to be there to cross the finish line with them! During the sale, it can be a bit confusing to know the different responsibilities of the buyer and seller throughout the process.
Early in the process, when deciding which party will choose the title company in a real estate transaction, there are a few things to consider. A crucial deciding factor is usually who has the most at stake in the transaction, or who is putting the most money on the line. In many cases, this will be the buyer, as they stand to lose the highest amount of money if something goes wrong with the title. However, in Florida, the majority of counties require the seller to purchase the title insurance, giving them the primary option to choose the title company to assist in the transaction.
If you’ve found yourself in the position of being able to choose the title company for your sale, here are a few helpful tips to consider as you make your decision.
What is a Title Company and What Do They Do?
A title company is a business that helps to ensure the legal ownership of property. They do this by examining the title to the property and making sure there are no outstanding liens or claims on it. They will also work to resolve disputes that arise over the title. Title companies not only uncover any title issues, they also issue title insurance policies, facilitate closings, and file all necessary paperwork to ensure a smooth transaction.
Choose a Company That is Reputable and Trustworthy
If you choose a title company that is not trustworthy, you could risk losing a lot of your money or even your property. A negligent title company opens the door wide open for mistakes with serious consequences. For example, if a poorly performing title company doesn’t do a thorough job in examining the title, or pay attention to the many legalities and important details throughout the closing process, you risk someone else laying claim to the property down the road. Spend some time researching “title companies near me” and take a close look at the reviews to make sure you are working with a company that is trusted by the community.
How Can You Be Sure the Title Company You Choose is Reputable and Trustworthy?
First, look for reviews online. See what other people have said about the company, its employees and how they handle their transactions. Client reviews provide insight into whether or not the company is one you want to work with.
Second, talk to your real estate agent. Your agent likely has knowledge of the different companies in the area. Ask them to provide a list of options for you to research.
Third, ask around. Talk to your local family and friends and see if they have any recommendations for a trusted title company.
Finally, take the time to read up on different title companies and compare their services and their fees. Ask to speak to a title agent at the company so you feel comfortable with the many details of the transaction. This will help you choose the one that is right for you.
Come Close with Us
If you’re searching for a title company you can rely upon to provide you a seamless and secure transaction, reach out to one of our trustworthy agents at any one of our six locations. We are proud of our 400+ years of cumulative experience in title, our title agents are true experts in the field. We are a premier real estate settlement service provider that is dedicated to exceptional customer service, offering cutting-edge technology and multiple locations to serve our clients where and when they need us. Reach out today – we’re happy to be your trusted partner whether you’re buying or selling!
Supreme Title makes no representations or warranties with respect to the accuracy or completeness of the matters addressed.
Please contact Supreme Title with questions you may have.
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