A Title Company’s Purpose

The process of purchasing a home is exciting. Once you find that perfect house that fits your needs, you may start realizing that this dream is on the cusp of becoming real.

Finding that dream home is just the beginning of the purchase process. After the contract is signed, there are many elements to the experience that you may not understand. A title company ponte vedra beach is one such element that you may not understand. Find out more about what this crucial piece for the home-buying process is.

What Is a Title Company?

In a residential or commercial closing, there are often many companies and elements that come together to get the transaction done. The title company straddles the line between all of the parties. They do not favor one side or the other like a mortgage company does. Instead, they work in unison and helps to get the closing to occur.

What Does a Title Company Do?

There are often factors that have a vested interest in a piece of property. A title company checks the history of the property to see who or what may affect the ownership of a parcel or building. Typical things that may impact the title of a home include:

  • Current mortgages
  • Easements granting access across the land to third parties like utility companies
  • Plats that subdivide a parcel
  • Homeowners associations
  • Liens from various claimants

When a home is affected by some of these, it can make selling it impossible without clearing them up. Liens, for example, must be paid by the current owner. A buyer must accept any conditional or access easements for access across the property for utility easements or conservation areas. A stalling can stall out if unexpected issues arise during the title search and clearance process.

Patience when buying a home may be in short supply. The title company is there to ultimately ensure that a buyer gets the property free and clear of anything that may hinder an enjoyable home life.