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Joshua Taylor's Blog

By Josh Taylor | Broker in Tampa, FL

Which Title Company should I use?

When selling a house, whether through agent or not, you will want to use a Title Company.  In this blog, I will explain the reasons why using a title company are necessary in any transaction.

What does a Title company do?

A title company will conduct an extensive search of Florida public records to verify the seller’s right to transfer ownership of real property.  No one wants to end up purchasing a home that has claims or defects that limit the owner’s right to transfer property.

If you are purchasing a home with a loan, title insurance is going to be required.  This insurance policy will cover the bank’s interest in your property and it will safeguard first position as a lien holder on the real estate. The insurance policy will also protect you as the purchaser at the closing.  An owner’s policy is your assurance of protection against economic loss if a title defect is ever discovered and a claim filed against your property.

If a file were ever claimed against you as the owner of the property, all legal expenses and court costs would be covered.  If the claim against your property is valid, the title insurance company will reimburse you for the loss up to the amount of the policy.

Without title insurance, especially on bank owned foreclosures, things can get messy.  You would especially want to be covered when purchasing a For Sale By Owner. 

For more real estate information visit sellingtb.com/weblog and follow us on Twitter @sellingtb

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