How to Work With a Real Estate Title Company in Nashville

Home » Resources » How To Turn One Home Into Two Homes With An HPR
By Rochford Law Posted on April 15, 2021 at 4:23 PM
 

Whenever you decide to purchase or sell a piece of real estate, you’re going to have to deal with a multitude of professional inspectors, realtors, and attorneys. This aspect of real estate deals can often become a little overwhelming for many people who try to take it all in at once. However, with the help of a real estate title company, you can streamline your entire sale or purchase process.

Real estate title companies are very important to protecting the buyer and ensuring all of the proper paperwork is in place and regulations are followed moving forward. A title company not only helps to move the transaction process along, a title company also provides proper protection to the lender.

Here are some of the ways you can work with a real estate title company in Nashville:

  • Understand Your Title Search
  • Work Through Your Title Insurance
  • Facilitate Closings

Understand Your Title Search

In most cases new homebuyers are not going to have access to direct knowledge of the entire history of their potential new home. However, if you are purchasing a newly constructed home, this might not be the case. Home history is not only useful because it gives more background on the property, it can also play a huge role in the sale of your home in the future. A real estate title company is able to dig through public records to find anything relating to the title of the property in question. With this information, they can look for anything that could make the transfer of ownership less than clear.

The role of a real estate title company is meant to help verify that the person selling the property has a legal right to do so, as well as find clarity on any potential issues connected to the property itself. Property issues could include existing liens, unpaid taxes, easements, leases and much more. Depending on the real estate title company you work with, your attorney may be able to obtain a property survey to verify the location of the property lines and to find any other issues before the sale is completed.

Pro Tip: If any of this information overwhelms you, don’t worry! Your real estate title company will compile all of this information into a palpable manner. The real estate title company you choose will be able to attempt to rectify any outstanding issues so they don’t become larger problems down the road.

Commercial real estate closings in Nashville necessitate an experienced real estate attorney. Visit Rochford Law & Real Estate Title today!

Work Through Your Title Insurance

While a property title search tends to be thorough, there can always be a chance that another issue is found in the future, perhaps when you are selling the home you’re currently trying to purchase. This is where title insurance comes in to protect your property in certain scenarios from any fallout from title issues. The real estate title company you choose to work with will be able to offer two different types of insurance options.

In terms of a lender’s policy, your title insurance plan will likely be required by the institution that provides the loan to the homebuyer. This type of policy will be in place until the full amount of the loan is paid off. Lender policies can extend protection only to the financial institution in the case of future title issues. An owner’s policy, however, protects the buyer from potential title issues. This policy is generally optional, but it is recommended in most cases. In most purchasing agreements, the coverage will last as long as the homebuyer owns the property.

Reminder: These insurance policies work to reduce the amount of risk associated with the purchase of a property. And should an issue come up, the policy will provide a real estate attorney to work on your behalf.

Facilitate Closings

In some property purchase cases, your real estate title company will also act as the closing agent for the final transaction. Your title company will send a representative to arrange the closing process and compile any and all necessary documentation. This process will often include the need for verification of the necessary funds as well as acting as the escrow agent to disperse them when necessary.

In this part of the process, the real estate title company is to act as a neutral third-party to assist when necessary. They will not be able to seek advantages for their client, but instead can make sure everything is properly addressed, signed, and filed. These services can prevent any issues that arise later on in the process of a legal transfer of a piece of real estate. A real estate title company can offer some of the most important services that help all involved parties come to an agreeable closing conclusion.

Working with an experienced real estate attorney like Rochford Law & Real Estate Title in Nashville, TN can save you time and money in the long run. It’s best to cover all your bases and get through a real estate transaction with as little problems as possible. However, it’s comforting to know that should a dispute pop up, a real estate litigation attorney can help find a resolution.

 

Contact Rochford Law & Real Estate Title today!

Topics: Nashville Real Estate, Nashville Real Estate Attorney, Real Estate Lawyer