It is an important event to sell or buy a property. Most people consider it the biggest investment they will ever make. Next, you will need to get a title from a Title Company.
The title grants the owner the right to the property. It is important to understand what services they offer. You can also check services provided by the title company in New Jersey through http://www.clearskiestitle.com/.
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The Title Company plays the following role:
1. Receipt the earnest money. The earnest money is a deposit that the buyer must make to prove that they are serious about purchasing. If the sale goes through, the money will be applied to the down payment. However, if it does not, the amount won't be returned unless it is stated in the offer as refundable.
2. The title company will check the title of the property or home. This is a comprehensive check of all property records. This serves to verify the seller's right of ownership change. This search will reveal if the property is subject to any demands, liens, or other restrictions.
3. The company will then proceed to a "Commitment of Title Insurance" after completing the title search. The mortgage lender receives the copy and copies are given to the buyer, seller, realtor, and attorneys.
4. The company will keep in close touch with the realtor, lender, and lawyers between the receipt of the contract, and the final settlement. This is essential to get the documentation required for closing.
5. The title company will collect the funds necessary for prompt and accurate disbursement. The company will ensure that all documents are filed in record and that the lender has been satisfied. All paperwork is returned.
A title company is committed to providing excellent service.