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  • Writer's pictureSunny Settlements

What is the role of a title agent in a real estate transaction?

When buying or selling a property, there are many important players involved in the transaction, including real estate agents, mortgage lenders, and home inspectors. Another key player in the process is the title agent.

What is a title agent, and what role do they play in a real estate transaction? Let's take a closer look.

A title agent, also known as a title examiner or title insurance agent, is a professional who specializes in reviewing and verifying the ownership history of a property. When a property is bought or sold, the title agent will conduct a thorough search of public records to ensure that the seller has the legal right to sell the property and that there are no outstanding liens, encumbrances, or other issues that could affect the transaction.

The title agent's primary responsibility is to issue title insurance, which protects both the buyer and lender from any potential title defects or claims that may arise after the sale is completed. This means that if any issues arise with the property's title in the future, the title insurance policy will cover the cost of defending against those claims and potentially paying damages.

In addition to conducting title searches and issuing title insurance, the title agent may also be responsible for handling the closing process, including preparing the closing documents, collecting and disbursing funds, and recording the transaction with the appropriate government agencies.

Overall, the title agent plays a critical role in ensuring that a real estate transaction goes smoothly and that all parties are protected from any potential legal or financial issues that may arise. While their work may not always be visible to buyers and sellers, it is an essential part of the process.

If you're buying or selling a property, make sure to work with a reputable title company and experienced title agent who can guide you through the title search and insurance process and ensure that your transaction is completed with the utmost care and attention to detail.

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