What a Title Company Is Responsible For

what a title company is responsible for

Among other things a title company is responsible for helping you acquire title insurance.

Buying a home can be long and complicated. However, the process can become a little easier when you know you have expert professionals on your side. A title company can help you avoid many potential issues during your home buying process. But what can a title company do, exactly? In short, your title company is responsible for reviewing documents, protecting your investment, and finalizing your purchase with no extra stress. Read on for a few services you can expect from your Maryland title company. 

Preparing Property Deeds

Title companies focus primarily on titles. An attorney will prepare your deed to the property. Sellers will then sign the deed showing the property has a new owner, while a title company’s representative will notarize the signatures. The title company is also responsible for submitting the deed to the county recorder’s office, after which the buyer will become the official owner of the property. 

Conducting Title Searches 

Your title company will hire an independent examiner to research and review the title to your property. This person will search public records to identify problems with the title’s status, including anything that may disrupt the title’s transfer. The title company then provides the buyer and seller with information about the title in a title report. This report can then be used to secure title insurance. This step is part of the closing process and helps homeowners avoid delays and legal fees that may result from purchasing a property with a bad title. 

Acquiring Title Insurance

Most mortgage companies will require you to obtain title insurance before they agree to a loan. Title insurance protects the lender from prior claims to the home, including liens, undisclosed heirs, and other roadblocks. Your title company helps you acquire this beneficial title insurance. 

Assisting in Home Closing

A title company is responsible for assisting you in the closing process. The company can make this process faster and easier by ensuring that everyone has proper documents, reviewing closing instructions, and conducting closing processes according to the law. Title companies will submit documents as needed and make sure they are correctly filed in the relevant property records. 

By acquiring the help of a title company during your home buying process, you can rest easy knowing that your homeownership is secure. 

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, and LinkedIn.

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