The Real Estate Title Industry is vast and proactive in terms of protecting you and your best interests throughout your property transaction. Rochford Law & Real Estate Title provides professional legal and title services in Nashville, TN, upholding the concepts of integrity, character, honesty and reliability in all of our relationships.
As Nashville, Tennessee is currently experiencing a housing boom, making use of a real estate professional is a great way to maximize the return on your property. However, a quality, reliable Real Estate & Title Company should follow a few general guidelines to ensure the success of your transaction. To learn more about the best practices in the Title Industry, read on.
Here’s what you need to know:
- Proper Licensing
- Protected Electronic Verification Process
- Standard Settlement Procedure
- Variety of Title Options
Proper Licensing
When it comes to the Title Industry, from obtaining past information on your property title to figuring out which title insurance plan will work best for your real estate transaction, you’re going to want to work with a company who follows proper industry regulations and guidelines. Included in that, all companies within the Real Estate Title Industry should have obtained proper licensing in order to work with clients.
These state issued licenses can allow you real-time access into land records, insurance deals and so much more. Whether you’re establishing a title firm or looking to buy or sell a piece of property, a Real Estate Title Company should have acquired the right licenses based on their state and practice.
Protected Electronic Verification Process
Now widely considered to be an industry best practice, ensuring the protection of your digital title documentation, client information and other vulnerable assets online will be important to the success of your Title Company.
Whether your business is working towards adopting appropriate written procedures and controls for an electronic verification process, or you’re currently maintaining and reassessing your digital protection and verification programs, protecting your clients and important data is crucial. A quality Real Estate Title Firm should work to protect Non-Public Personal Information (NPI) as required by local, state and federal law.
Contact Rochford Law & Real Estate Title today.
Standard Settlement Procedure
Another way to effectively and appropriately comply with federal and state consumer financial laws, a quality Real Estate Title Company will want to adopt a standard settlement procedure. Whether you want to instill a mobile closing process or finish up all transactions with a Title Insurance consultation, implementing a standard settlement procedure shows your clients that you care about getting things done right the first time.
As an industry best practice, applying standard procedures can also help set you apart in the ocean of title companies. Standard settlement practices that follow state and federal guidelines can be specific to your firm, establish your business as a reliable source in the industry, as well as protect your assets and clients at the end of their transaction.
Variety of Title Options
One of the most important “best practices” to follow in the Title Industry has to do with Title Insurance options. From written procedures related to title work, final title insurance programs, insurance reporting, premium remittance, and so much more, a quality Title Company will want to have a good understanding of the best insurance coverages in the real estate market.
As a good rule of thumb, all Title Companies should also maintain appropriate professional liability insurance and fidelity coverage. With this in mind, maintaining a variety of title plan options, you can not only protect your best interest, but you can offer clients the most reliable, trustworthy industry knowledge as well as protect them in their real estate transactions long term.
Title insurance is typically sold by real estate companies in two categories:
- Loan Policy: Involving lenders who provide loans to homebuyers, this type of policy remains the same until the full loan amount has been repaid. When title issues occur, lender policies may only cover the financial institution.
- Owner’s Policy: These types of policies ensure buyers are protected from possible title problems. The warranty usually lasts the length of the homeowner's ownership of the home.
Rochford Law & Real Estate Title
Dealing with the moving parts of real estate transactions can be a complex and painstaking process. Our title company offers professional title and property closing services to ensure all processes are conducted smoothly and effectively. Our decades of experience and attention to detail make Rochford Law & Real Estate Title, title services the best choice for your real estate transactions in and around Nashville, Tennessee.
Assure your title is free and clear by acquiring the title services of Rochford Law & Real Estate Title. We provide you with quality, dependable and professional service, along with guidance and expertise in each phase of your real estate transactions.
Our title services include:
- Title insurance policies for you and your lender
- Guidance and expertise throughout the title process
Get help from a title company in Nashville you can trust! Contact us today.
