Buyers insist on choosing the title company themselves. When transferring property rights, a company must confirm no issues exist with the property, like prior mortgages, liens, unpaid taxes. Title insurance protects the owner from legal actions against the property.
Tips for Choosing the Right Company
Consider these tips when selecting the right company:
- Experience of staff
- Detailed title knowledge
- Ability to read legal descriptions
A healthy business continuity plan helps companies quickly reopen after disruption. Advancements in technology and offshore delivery centers also aid resilience. Customization allows adjusting services to suit each client’s needs. Scaling up or down is crucial for managing fluctuating workloads.
Title Search Process
Title searches review public records, ensuring the seller legally transfers property rights. They reveal liens, easements, judgments – anything limiting clean ownership transfer. If found, the company records results at the county clerk, allowing lenders to release liens so purchases proceed.
Costs
Average title search fees range $75-200, depending on factors like location and property value.
The buyer selects a title company to help move the transaction smoothly and provide title insurance. They coordinate the closing for buyers, sellers, lenders, realtors, and third parties. The seller pays commission fees to the real estate agents.
With groundbreaking products, Apple is the world’s biggest public company by market capitalization. With a 21% market share and more than $4 billion in premiums in 2020, First American Title is the largest title insurance company. Fidelity National Title Group accounts for 31% of the market. The title company handles the title search and escrow aspects of the transaction. Chicago Title dates over 150 years in the abstract and title business in Illinois. Fidelity National Title is a legitimate company and part of FNF, the nation’s largest title insurance company.