Real estate transactions happen every day. People are buying and selling real estate all the time. That said, it can be rare for individuals to deal with real estate transactions. Therefore, it can be complicated for homebuyers to understand what a title insurance company can do for them during the process. A helpful guide to help walk you through the process can make the entire experience easier to understand.
Getting the Contract
The initial phase of a real estate transaction is receiving the contract. A title insurance company will receive and review the real estate contract for the client and then review the title order for important information.
Open a Client File
Once the home buyer accepts the quote given by the title insurance company, the title insurance company can open a file on behalf of their new client. This is when you can officially say you have a title insurance company by your side throughout the process of searching for a new home.
Order a Title Search
One of the most critical steps of this guide is the title search process. One of the first things that a title insurance company will do upon accepting a client is the actual title search. This crucial step is always required for all purchases that need title insurance. A title insurance company will always order a title search to help their clients qualify for a mortgage or other loan and potentially look for any encumbrances in the chain of title to the home.
Order a Lien and Judgment Search
One of the last steps of a real estate transaction involves the results of the title search. After the title search is conducted, the title insurance company will ultimately order a lien and judgment search which will find and uncover any monetary obligations that could potentially have been placed on the property you plan on calling your own.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.