What Does a Title Company Do?

Miami RealEstate

What Does a Title Company Do?

When you purchase a home, a title company will research the property to ensure that you are the rightful owner. They’ll look through records for anything that might cause problems—ownership disputes, restrictions, unpaid taxes, liens, and more. Their goal is to document the chain of title and identify any issues that could become major problems down the road.

Miami Real Estate MaginAt the end of the process, the title company issues a title opinion. This is a legal document that states that the title is valid. The title opinion is part of obtaining title insurance. The insurance protects both the owner and the lender if there is a title dispute. If another party is actually the rightful owner of the home, your title insurance protects you from financial loss.

In addition to title opinions and title insurance, title companies also handle escrow accounts and distribute money to the appropriate parties at closing. They’ll also deliver closing documents to the appropriate agencies.

Source: breakthroughbroker.com
Image Credit: mediabakery.com

 

Check out available condominium units and homes in Miami. Contact Ralph Magin, your trusted real estate agent, at 305-935-2696 or visit www.ralphmagin.com for real estate inquiries.

Ralph Magin, GRI, CRB – Keller Williams Elite Properties
Broker Associate – 35 Years Experience
305.935.2696 Fax 305.328.9267
RalphMagin@yahoo.com www.RalphMagin.com

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About ralphmagin

Ralph Magin, GRI, CRB - Coldwell Banker Residential Real Estate - Broker Associate – 35 Years Experience - GRI - Graduate Realtors Institute - CRS - Certified Residential Broker - B.A. University of Florida - Nationally Ranked Tennis Player
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