A title agent works to protect you and your property, by ensuring your property has a clean title. An agent can also secure title insurance to protect the buyer.
Having a title search conducted by a skilled professional title agent assures a clear title, making sure that there are no outstanding claims against a property before the transfer of title. Without it, a new owner could be at risk for any claims.
Title agents usually work side by side with others on a buyer or seller’s real estate team, such as your real estate agent, certified lender, closing attorney, or directly with banks and lenders.
What a Title Agent Does
Your title agent determines the physical boundaries, usage rights, and any encumbrances on a piece of property, whether it's a residence, a business, or land. The word title itself is used to describe the right to own that piece of property.
Title agents play an important part in the sale of a property for both buyers and sellers. Their work includes reviewing all records and unpaid debts, including:
Real estate records in your city and county such as deeds, sales, and county land records
Bankruptcy and divorce records
Financial judgments that could be attached to a property
Mortgages attached to the property
Tax liens
Construction liens
Mineral rights
By verifying records and checking on any unpaid expenses, the title agent will work to determine your property’s valid title.
A title agent is skilled at recognizing anything that prevents a title from a clean transfer, such as unpaid expenses from taxes, liens, and old mortgage loans. Any such expenses must be cleared to transfer a title legally. This also includes clearing any easements, restrictions or leases before legally transferring a property’s title.
And, your title agent can also provide title insurance options that protect new owners should any questions or concerns appear after the completed sales.
The exact specifics of a title agent’s work can vary by state, as in some states, the title agent could work for the title insurance company, and in others, closing is handled by what is called a settlement agent or an attorney. Either way, the title agent plays an important role in receiving clear title to a purchased property.
What a Title Agent Provides
A title agents offers these benefits:
Smooth closing process
Clean title, with no surprises or claims against title
Ability to obtain comprehensive insurance to cover any post-sale discrepancies
Agents can also help to:
Uncover defective titles
Prevent fraud
Eliminate risky financial surprises
Choosing a Title Agent
An experienced, professional title agent and title company is key to choosing your title agent. A good title agent will be able to communicate clearly and access the most up-to-date technologies to research titles and make the entire closing transaction easier.
While your real estate agent may have a title insurance company in mind, you’re always free to choose the best title agent for your needs.
Conestoga Title is Here to Help
Conestoga Title Insurance provides independent title agents with the tools they need to be successful. Founded in 1973, we offer complete title insurance services through a network of highly qualified and experienced independent agents and approved attorneys. Reach out to us today!