A reputable and qualified real estate title agency can make your landlord property for sale transaction go smoothly with minimal delays. Many people who are involved in an owner sales transaction question the role of the title agency and how the agent and agency can help them with their purchase, but title agencies provide important services and guarantees throughout the sale process.

Property purchase and title services for sale by the owner

A real estate title agency performs many important functions during any transfer of ownership, including sales transactions by the owner. One of the most basic services provided by the agency is conducting a title search for the property being sold. This search will uncover any ties against the property for sale by the owner and ensure that the property is legally eligible for sale. A title company has extensive experience in this type of record research. They know where to look, what the different terms and findings mean, and how to comply with all applicable federal, state, and local laws. The title agency can be selected by the buyer or the seller and is a negotiable part of most real estate transactions. In either case, the agency acts as an impartial party working to ensure a smooth closing for both buyer and seller.

Another primary function of the title agency is to provide title insurance to the property for sale by the owner, buyer, and mortgage lender. This indemnity insurance policy protects the buyer and the lender from unforeseen claims that may arise against the property in the future, such as unpaid taxes or property ties, as a result of the actions of previous owners. Although the title search is supposed to find these links, it is always possible that a link will be lost or a claim will arise against the property from an unknown source. That’s where title insurance comes in. The policy will help protect you from loss if such a claim arises.

While the title search is being conducted, an agency will also order an inspection of the property, which will reveal any encroachments on the land that the buyer may be unaware of. Both title insurance and property surveys are examples of safeguards provided by title agencies.

Additional services from the title agency

Many agencies also act as escrow agents, which means they can hold the money as collateral, pay off the seller’s mortgage, and pay any necessary taxes after closing. Title agencies also file transaction records with the appropriate government entities so that the transfer of property for sale by the owner is properly recorded.

You will also find a notary public on the staff of most agencies. Notaries assist during property closings and property transactions by verifying the identities of those involved. This helps prevent fraud.

Last but not least, title agencies often organize the actual closing as well and facilitate the closing process. From the moment the guarantee check is signed to the moment the last signature is written on the sales documents, the agency is involved. The agency handles correspondence and forms for the buyer, seller, involved realtors, banks, mortgage lenders, and more. The agency will follow up on all this correspondence and make sure everything is in order for the closing to take place.

It is important that buyers and sellers of properties for sale by owner work with an experienced, full-service title agency. These agencies will guide you through the closing process, ensuring that all necessary transaction paperwork is in order and that the property is eligible for sale.