The home buying process sometimes can be complicated and overwhelming. Although some of the issues can be easily avoided, there are some that new homebuyers may not even realize they exist.
But, there is nothing to worry about. The Brooklyn located title insurance company, Riverside Abstract is here to protect its clients against these issues.
If not familiar with the term ‘title insurance company’, at Riverside Abstract LLC explain that this is a company responsible for reviewing documents, protecting the investment, and finalizing the purchase of your home with no extra stress.
What Is A Title Company Responsible For?
From Riverside Abstract point out few services that your title insurance company provides you when buying a home.
The primary focus of a title company is, of course, on titles. The seller must sign the Deed of the property prepared by the company’s attorney. A title company’s representative will notarize the signatures of the Deed which indicates that the property has a new owner. The deed will be submitted to the county recorder’s office by the title company, and then the buyer will become the official owner of the property.
An independent examiner is hired by the title company in order to provide careful research and review to the title of the property.
In order to identify any problems with the status and condition of the title, the examiner will make a search in the public records. These concerns relate to the transfer of the title.
Both, the buyer and the seller will be provided with information about the title in a preliminary title report. This report can be used to secure title insurance.
Riverside Abstract indicates that this is an important step in the closing process. It helps delays and expensive legal fees that could result from purchasing a property with an unsound title to be avoided.
Obtaining title insurance, prior to agreeing to a loan, is required from most mortgage lenders. In this way, the lender is protected against any loses that could arise from unsolved title issues. These include mechanics liens, undisclosed heirs to the property, and any other roadblocks that would make it impossible for you to use the property as collateral for the loan.
A title company can make the closing process faster and easier. The title company representative will ensure that everyone has submitted the proper documents, review closing instructions, and conduct closing processes according to state and federal laws.
To ensure that the documents are properly filed in the relevant property records, the title company will also submit them as necessary.
About Riverside Abstract Title Company
Speak to Riverside Abstract LLC company representative for more information about the home buying process and how a title company can assist you.
Riverside Abstract brings many years of experience in both the legal and real estate fields. Its experience includes both commercial and private real estate transactions. This unique combination of knowledge helps this title insurance company to provide clients with in-depth, comprehensive services during their home buying process.