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Should you choose your own title company?

On Behalf of | Feb 11, 2023 | Real Estate Titles

When buying property, it is easy to become solely focused on the end goal, which is the formal transfer of ownership from the previous owner to you. As the buyer, you understand the critical steps of getting preapproval for a loan, setting a budget and carefully searching for a property that meets your criteria. However, you will also benefit from knowing what happens once all other steps are complete and you are moving toward the finalization of the sale. 

A clear title is essential to a smooth and complication-free real estate transaction. The title refers to the legal right to own a specific piece of property in Texas. It includes the documentation that verifies current ownership rights and other important details about the property, such as verification of boundary lines. Ownership is not always easy to track, and issues with the title can derail the entire purchase process.  

The importance of the title company or agent 

A title company is a business that handles all matters related to titles, including the facilitation of the closing process. The job of the title agency is to ensure a proper verification of ownership, as well as provide assistance to the buyer in the purchase of title insurance. These agencies work with others involved in the process, such as lenders and real estate agents, to ensure a smooth process. Sometimes, title agents are responsible for ensuring the proper transfer of money at the finalization of the transaction. 

It is common to defer to your real estate agent’s preferred title company, especially if you have built a good rapport with the agent. However, this is a critical decision, and it is prudent to give careful consideration before deciding if you should choose your own. The title company and agent should be reputable, experienced and knowledgeable. They should also be up-to-date on the latest technology and processes to ensure that your transaction is as smooth as possible. 

The mark of a good title company 

A good title company should coordinate the closing and the last steps of your real estate purchase effectively and efficiently. Good customer service is key, as well as the ability to leverage the technological resources available to improve the overall process. Before you make any final decisions about the title company you will use for your purchase, take the time to research your options and make a choice that will provide you with confidence and assurance.