The value of a Florida Title and Escrow company in real estate transactions is immeasurable. When you work with a Title and Escrow company, you have trusted partners that will protect your interests, whether you’re buying or selling a home.
But what are title and escrow companies, and what do they do? Why is it important to work with one?
The primary role of a title and escrow company is to facilitate real estate closings. This entails organizing title documents that need to be closed, developing a closing disclosure, and researching the latest payoff figures.
However, not all title and escrow companies can manage every step of a Florida property closing. Some serve as escrow agents, some companies specialize in title insurance, while others may offer title search services exclusively.
Therefore, the Florida title and escrow company you choose should be able to provide a full range of services, so you have one company handling every aspect of your closing process. That way, you will have a convenient and stress-free closing experience.
If you are a first-time homebuyer, you may wonder what the role of a title and escrow company is in your real estate closing. Some people may even think that hiring a title and escrow company is an unnecessary expense.
Spending money on a title and escrow company is necessary because purchasing a property with hidden liens, title issues, or code violations, could be a costly financial mistake you can make.
Research the Title History:
The first responsibility of the title company you choose is to conduct an extensive search of the property’s title history to ensure it is clean and that the current owner has a right to transfer the title. Any hidden or unsolved issues with the title should be resolved before closing on the property.
Issuing Title Insurance:
The title company also helps prepare a title insurance policy for you, the buyer, to protect you from potential financial liabilities that may arise over the land ownership later on.
Real Estate Closing Services:
Lastly, a title and escrow company can handle every detail of your real estate closings. Remember that all companies can handle everything regarding your closing, so strive to find a Florida title company that offers as many services as possible.
Atlantic Coast Title and Escrow is the law firm in Jacksonville, FL, that can handle all your real estate settlement needs. We employ a client-based approach to real estate transactions, fulfilling the needs of buyers and sellers throughout the closing process.
If you are interested in buying or selling a property in Florida, we can help. Contact our Jacksonville Title and Escrow Attorneys.