When you’re involved in a real estate transaction, understanding title services is crucial. Title services encompass a range of activities designed to ensure the legal transfer of property ownership. Here’s a breakdown:
Title Search
A comprehensive examination of public records to verify the property’s legal ownership history and identify any potential issues, such as liens, encumbrances, or easements.
Title Insurance
Protection against financial loss from defects in the title, covering both the buyer (owner’s policy) and the lender (lender’s policy).
Escrow Services
Handling the funds and documents involved in the transaction to ensure they are distributed correctly and securely at closing.
4. Closing Services
Coordinating the final steps of the transaction, including document signing, fund transfers, and recording the new title with the appropriate government office.
Why Title Services Matter
Title services are essential for protecting both buyers and lenders from potential legal and financial issues. They provide peace of mind by ensuring that the property’s title is clear and the transaction is legally sound.
At Compass Land and Title, we offer comprehensive title services to guide you through the entire process, ensuring a smooth and secure real estate transaction.
