Should I Use A Title Company To Buy A House?

Should I use a title company to buy a house? You should use a title company to buy a house. The title company makes sure that you know exactly what you are buying, that the seller is in competence to sell you the property, and that the exchange of funds goes smoothly.

It is recommended that you should use a title company to buy a house. Nowadays, people move around a lot, and there are a lot of complications in people's lives. If there is a death, there is also the necessity of proving up the probate of the past seller. This is one of the most obvious reasons to use a title company. You want a record search to be done to assure the buyer that the seller has not made any more liens on the property. You want to know that the seller does not owe any more money than what is recorded. You want to know that he has stated that he does have title, and he will warrant that he does. It's important that the seller does not have any outstanding people that might have an interest in the land that the buyer is not aware of. The title company actually handles the transaction when the money is exchanged. They handle the transferring of the warranty deed and the title policy to the buyer. There is an escrow officer which is the third party that is not in the transaction of the contract. They make sure that the obligations of the two parties are met. For instance, a buyer may require a survey of the property. He may want to show that the lines have been surveyed, and the buyer knows exactly what he is buying. The surveyor will define and draw all the utilities lines, encroachments, roads, or any other physical objects on the property. Before the buyer pays his money, he wants to be sure that he is well informed of the specific property. The old saying is "Caveat Emptor" which means "Let the buyer beware." Legal maxim stating that the buyer takes the risk regarding quality or condition of the item purchased, unless protected by warranty or there is misrepresentation.

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