What is the purpose of a title company in a refinance?

A title company acts as a communication platform for all the parties involved in the refinancing process. An employee from the title company will contact third parties to establish the exact amount used to pay off any liens or encumbrances recorded against the property.

How to contact a title company when buying a home?

Consumers should feel free to contact their title company at any time to get answers to their questions on title searches, title abstracts, title insurance, escrow accounts or closings. Buying a new home? Find a local lender on Zillow who can help.

What is a title company and what does it do?

What Is A Title Company And What Does It Do? The title company is a third party that works on behalf of both the lender and the buyer. You hire them to research and ensure the title of the home you’re buying. Why is that important? Let’s say you buy a home without hiring a title company.

When do you meet with a title company?

If your title company handles your closing, you will meet with a settlement agent in person then. At this time, the settlement agent will explain all the documents related to the settlement before you sign anything. And, of course, if something goes wrong with regards to the title, you will likely meet with one of their agents then.

Which is the Best Title Company for closing a home?

Plus, they’ll manage the closing of your home. Amrock, LLC, a title company doing business in all 50 states, has more than 20 years of experience and offers a single point of contact, plus easy and reliable communication, extended hours and the freedom to close on your schedule.

Can a title company reissue a title at closing?

If you are confirmed as the current property owner, you can submit your owner’s title policy to the title company to acquire a reissue credit. That said, there are instances when a new title is provided at closing, which occurs if the “current vesting” (the name of the property owners) is changing.

Are there any issues with the title company?

In some cases, the title could be clouded. Issues involving former owners, back taxes and even fraudulent claims may arise during this process, but with title insurance and a thorough title search and examination, you can be sure you are protected.

Where does the title company store its documents?

We store all the vital documents electronically on a secure server in the cloud, so you can have access to them any time you need them, 24/7, 365 days a year.

What do title companies look for in a refinancing?

Their goal is to confirm that an applicant is truly the legal property owner. This process may also reveal information that a lender might find relevant. For instance, through a title search, a lender might discover the property owner has had a judgment filed against them.