What Are the Duties & Roles of a Title Company?

Buying a home is a considerable investment that you will likely never make again in your lifetime. Given the large amount of money involved in the purchase and the potential for problems, you must choose a reputable title company to protect your investment. Below, we outline the duties and roles of a title company so that you can be sure you are making the best possible choice.

Maintaining Records

The first duty of a title agency in Boca Raton, FL is to maintain records. These records include all of the documentation related to the property in question and any liens that may be attached to it. This ensures that the buyer knows all the potential risks associated with the purchase and can make an informed decision before moving forward.

This also allows the title agency in Florida to track any changes that may occur over time, such as adding a new encumbrance. This information is critical in protecting the buyer’s investment, allowing them to take action if necessary.

Reviewing Contracts

The second duty of a title agency in Florida is to review all contracts related to the purchase of the property. This includes the purchase agreement, as well as any financing documents. The title company will ensure that all of the terms and conditions are fair and reasonable and that there are no hidden clauses that could be detrimental to the buyer.

They will also verify that all the necessary signatures are present and that the contract is legally binding. This is a significant step, as it can help to avoid problems down the road.

Conducting Searches

To ensure that there are no outstanding encumbrances on the property, the title insurance agency in Florida will search public records. This includes a search of the county recorder’s office, as well as a search of state and federal databases. If any liens or encumbrances are found, the title company will notify the buyer so that they can take appropriate action.

Also, the title agency in Boca Raton, FL will search for any judgments that may be attached to the property owner. This is essential information for the buyer to know, as it could impact their ability to obtain financing for the purchase.

Preparing Documentation

Once all the necessary searches have been conducted, the title insurance agency in Florida will prepare the required documentation for the purchase. This includes the title insurance policy, which protects the buyer if there are any problems with the title. It is also important to note that the title company will conduct a final search of public records just before closing to ensure that there have been no changes that could impact the buyer’s investment.

At closing, the title company will also provide the buyer with a deed to the property. This deed will be registered with the county recorder’s office and serve as evidence of ownership.

Choosing a reputable title company is essential when purchasing a home. These companies play a vital role in protecting the buyer’s investment and ensuring the process goes smoothly. Expert Title Company is a full-service title company that can handle all of your needs, from record maintenance to contract review and more. Contact us today to learn more about our services or to get started on your next home purchase.