The Many Benefits of Working with a Trusted Title Work Partner

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Whether you’re carving out a career in real estate or are buying a home for the first time, you’ll need to rely on the expertise of others for a seamless experience. There are a host of players and tons of moving parts that go into a smooth and seamless real estate transaction. And one of those key partners is a title company. Choosing the wrong partner, or opting out of working with one altogether, could leave you open to potential title work-related risks. So, how can you be sure you’re working with a trusted partner?

What does it really mean to have a “trusted partner” anyway? Think of it this way. Someone who assigns a mutual respect to your journey, with accountability to see your goals achieved, is a trusted partner. And when you work with New Door Property Transfer, these are the benefits and advantages you can expect from a trusted title work partnership.

The Role of a Title Company

It’s helpful to understand, first, what it is a title company does. As a third-party partner, these folks can work on behalf of everyone, buyers, sellers, and agents included. Because the responsibility of the title company involves researching the property, everyone involved in the transaction will benefit from the historical documentation, research, and closing day support. 

Chain of Title

The chain of title refers to the full history of a particular home’s ownership. The title search will turn up any second owners entitled to the property, any liens on the property, and property tax payment history. Additionally, the title company will be responsible for wording the title accurately to describe the current transfer of ownership.

Title Research

Title research involves a property survey. These surveys are required before closing and will ensure that the home in question occupies the same space outlined on the title. The title abstract will be available for review before closing.

Title Insurance

There are two types of title insurance that your title work partner will provide. One version is intended for the buyer, and the other protects the lender. Financial and legal protections are included should someone come forward with a claim on the property. Title insurance, unlike most traditional insurance policies, only require a one-time payment at closing to secure and will provide coverage until the home sells again.

Closing

Your trusted title work partner will also facilitate and manage the closing. There will be a signing agent or attorney to review all closing documents and follow through on finalizing the deed as well as transferring the title.

Funding

Title companies handle and manage the monies involved in escrow and will distribute these funds to the necessary parties. 

How a Trusted Title Work Partner Helps Buyers and Sellers

While all title companies will take responsibility for the same duties, not all experiences will be favorable. And that’s why finding and working with a trusted title work partner matters. Forbes shared that 30% of all land titles will have defects. You don’t want to have one of those titles on your closing calendar without a title work partner in your corner. For anyone buying or selling a property, there are certain benefits you can expect from the best title company partners.

  • Know all the history and move forward with the real estate transaction with a clean title.
  • Rely on a professional team to prepare and manage the closing documents, independent of all other parties.
  • Uncover issues with title work before closing that can be helpful to your negotiations.
  • Get help with settling liens with lienholders or other entities.
  • Avoid surprises on closing day by discovering outstanding loans, claims, undisclosed heirs, unpaid fees, liens, or other issues with the property ahead of time.

Real Estate Agents Benefit, Too

For real estate agents, having a trusted title work partner can be extremely advantageous, too. While you can refer a particular company to your buyers or sellers, having one relationship you can routinely count on to deliver a quality, professional, and thorough closing experience is important. 

Top-Notch Communication

The right title company will be a transparent communicator, with continuous updates throughout the search and examination process. They’ll alert you quickly to any concerns and help prepare for closing day. The right title partner can also be the first line of defense against fraudulent transactions.

Experienced and Efficient Team

When you find the right title work partner, you’ll have a team of dedicated professionals handling paperwork and getting the details right the first time. There will be a seamless efficiency with a high-performing title team, too. Avoiding timely and potentially costly errors is key to an excellent real estate transaction. As an agent, you could do the best job with your clients but still have a nightmare on your hands if you’re closing with an inexperienced title company.

Smooth Closings Equal Smooth Transactions

Closings that take too long, seem unorganized, or lack professionalism can leave a bad taste in the mouths of buyers and sellers. And it can create unnecessary stress and anxiety during what could be the biggest transaction of your life. What you need are title representatives who’ve walked through paperwork before and know how to answer FAQs. A smooth closing flow, whether it’s a 30-minute meeting or a two-hour gathering, needs to feel flawlessly executed, from the first handshake to the final exchange of keys.

Avoid These Nightmare Closing Day Horror Stories

Without a title company at all, or worse, a subpar title work partner, you could find yourself in a not-so-pleasant transaction. And while you might presume the nightmare scenarios are anomalies, think again. These situations can arise more often than you think. In the end, it’s the best title companies and professional teams that make the difference.

Wire Fraud: Cybersecurity is a real phenomenon, and closing day could get nightmarish if there’s an issue with funding because a scammer phished away escrow.

Closing Delays: Closing documents are to be provided three days prior to the closing date. In some rushed situations, paperwork gets forced through the prep process too quickly, with misspelled names, missing middle initials, or incorrect details that will need to be completely redone.

Miscommunication: Buyers can show up to closing with a personal check instead of a cashier’s check. Someone forgot to inform the parties of closing costs. Someone comes to closing with an expired ID. Issues arise with home insurance deadlines. These are all closing day issues that can be expected from time to time. But they don’t have to delay closing when you have a trusted title work partner who clearly communicates every step of the way.

Great Service with New Door Property Transfer

Don’t gamble with your real estate transaction and call New Door Property Transfer. Trust your transactions to the team who has all the tools and resources ready to go to work on your behalf. As your trusted title work partner, our teams will ensure smooth transactions so you can enjoy all these many title company partnership benefits. From thorough and prompt communication to next-level customer service, we have the expertise you need to have a successful closing day. 

Whether you’re a new or seasoned buyer or seller of real estate, or you’re an agent professional looking for an edge, let New Door Property Transfer pave the way for success!

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