Having clear title is crucial to any real estate transaction.
These property ownership records are filed with local government offices so that it is clear who is the rightful owner each time the property is bought and sold.
Having title that's free of any issues, where you can trace back all previous ownership records is called having “clean title.” It's a requirement for most sales because it ensures that the home you’re buying will actually be yours.
Title agents not only work to make sure the seller has proper ownership of the property they’re selling (clean title, as noted earlier!
Additionally, title agents work with the lenders, real estate agents, buyers, sellers, and all the other transaction participants to make sure the necessary documents get filled out, signed, and filed correctly.
Mastroeni: Why is it so important to choose a title agent?
Baker: Generally, the buyers and sellers defer to their lenders and real estate agents to choose a title agent, as they have likely developed a relationship with a title agent they know and trust.
Baker: A good title agent does two things well: they coordinate the transaction efficiently and they provide remarkable customer service.
Baker: Your real estate agent or lender should have relationships built with various title agents, as they work very closely throughout the closing process.
Mastroeni: Is there anything else that you think buyers should know about title?