What is a Title Company?
So you’re buying a new home, one of the biggest investments of your life! You’ve negotiated terms, worked hard with your lender to get a good loan into place, moving boxes and packing tape are standing by, and you’re dreaming of the day you’re settled into your new home. Finally, everything is lined up, a time is scheduled to sign documents, you walk into a title company and meet your Escrow Officer for what is probably the first time. This near stranger walks you through a stack of papers and then you leave and wait for that wonderful phone call telling you that you’re officially a Home Owner!
So what exactly does your Escrow Officer and Title Company do for you?
The most important product we provide is Title Insurance. Your home may be new to you, but every property has a history and there may be hidden issues in the chain of title which could affect your ownership. An owner’s title insurance policy protects you from inheriting possible debts or legal problems attached to the property. The premium is only paid once and covers you for as long as you have an interest in the title to your home, and automatically continues for the benefit of your heirs. Lenders require the same kind of protection, so there is a lender’s title insurance policy issued when a property is purchased with a loan.
Your Professional Escrow Officer at the Title Company is not a lawyer, CPA, lender or Realtor. They are a third party in the transaction tasked with making sure money and documents are handled the way all parties have agreed and instructed. In other words, they do a lot of work in the background, communicating with everyone involved to make sure you have a good, smooth closing experience. When you come in to sign papers, they answer your questions, walk you through the documents, make sure everything is as you expected. Then they get back to work in the background again with one specific goal – getting you into your new home!
At Henry Walker, we care about the entire buying and building process that affects our customers. We care about maintaining and building mutually beneficial relations between all parties, so we direct our customers to the best in the business to make it as seamless as possible. For more information or inquires about the escrow and title process, visit www.cottonwoodtitle.com or call 801-499-5100.