Good Title Companies Make Smooth Deals

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Good Title Companies Make Smooth Deals

There is no denying that selling or buying a home is quite a process. A real estate agent must make sure that all of the proper paperwork is submitted, signed and accurate. At times it all could become a nightmare. However, a smart agent knows the best way to make the operation go off with out a hitch is to create a strong real estate team. A vital element of this crew is a good title company. What role does a title company play when buying or selling a home?

The Main Players

There are indeed quite a few organizations and individuals involved in a real estate transaction. You may not meet them all, but each plays a pivotal part.

  • Mortgage Broker
  • Mortgage Lender
  • Loan Officer
  • Real Estate Agents, Brokers, and Realtors
  • Home Seller
  • Home Appraiser
  • Insurance Agent
  • Title Company

Smooth Operations

A diligent realtor understands that one of the best relationships they can formulate is with a title company. A title company offers impeccable legal competence and ensures adherence to all regulations. A good title company always helps meet deadlines. Here is a checklist of duties you can expect from a title company.

Title Abstraction

The title of the property is properly researched, which offers a clear history of the property and its ownership. This process may reveal liens or claims, and provides the buyer total transparency.

Survey Preparation

Lenders usually require a survey of the house and the land contained with the property. This order is reviewed for issues, and given to the buyer during settlement. That way everyone understands what exactly is included in the purchase.

Property Tax Verification

A buyer will want to make sure that all local or state taxes are satisfied, as well as any HOA fees. No one wants to discover an undisclosed hefty bill. The title company will report whether these financial obligations are honored.

Insurance Policy

Your title company can prepare and issue recommended insurance commitments:

  • The Lender’s which is required by the mortgage company and protects the lender’s investment
  • The Owner’s which protects the new owner from hidden risks and fraud against the property
  • Further, insurance offers protection from financial losses and provides payment for any legal expenses to clear claims

Closing Documents

The amount of paperwork can be overwhelming, and all parties involved need assistance in coordinating these documents. Such as preparing the deed in compliance with state and federal laws. The title company ensures everything is in order.

Closing Clarification

The entire process may seem confusing. Your title company will explain all documents before signing. After the closing, the company also distributes all monies and pay vendors. Lastly, the arrangement of the release of existing mortgages on the property, plus prepare loan documents for the lender.

Courthouse Documentation

Once the sale is final all documentation, such as the deed and mortgage, must be filed at the courthouse. The title company is responsible for this task.

Communication is Key

A good title company will ensure a smooth real estate deal. Communication is essential and creates trust between all parties involved. Railway Title understands transactions require excellent communication skills and attention to detail. You can be confident that we treat every client as our most valuable client.

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Why Railway Title?

railway title logo smallTired of being subjected with over-bearing fees? Tired of unorganized closings? We offer flat rate services! No surprises, no excessive fees, great service and are organized. That is Railway Title.

Conveniently Located

Annapolis

3168 Braverton Street
Suite #400
Edgewater, Maryland 21037

Eastern Shore

1551 Postal Road
Suite #C
Chester, Maryland 21619


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