Are you considering buying a home? Even if you’ve never purchased property before, you’ve likely heard the term title agent and you may be wondering: “What do they do?”

A title agent typically:

  • Obtains title search and report,
  • Thoroughly examines the property title,
  • Prepares and coordinates closing documentation,
  • Issues title insurances,
  • Facilitates closings,
  • Transfers relevant payments.

While your real estate agent may suggest the services of a particular title company, you ultimately have the right to choose your own title agent or attorney when looking to purchase property. When looking for a title agency, try to drum up some suggestions and referrals from friends and family. If you know someone who recently purchased property, ask them about their experience with their title company. You may also ask your real estate agent for suggestions for title companies they’ve worked with in the past.

When shopping around for a title agency, call a few to learn more about their costs and compare against other agencies. You may want to ask about their services and get to know their company and who their title agents are before you decide.

You may not know that closing costs are actually negotiable. While the premium for title insurance is nonnegotiable, you may be able to negotiate the closing fees set forth by the title agency. If eligible, you may also be able to receive discounts specific to your particular purchasing situation. Don’t be afraid to ask questions when looking around to find the perfect title company.

When closing time comes around, your title agent will be the one to facilitate signing of all closing documentation. Read all documentation carefully before signing and be sure to ask any questions you may have so that you understand exactly what you’re signing. Be sure to verify that the title insurance policy accurately describes the property you’re purchasing and familiarize yourself with its coverages.

Your title agent is your experienced source for all your closing questions. Reach out when you need clarification and find out the best way to check the status of your property’s closing documents. Some title agents use online portals to convey important status updates, share documentation, or communicate via secure message with all parties involved.

If you have any questions about your current or future real estate transaction, call our team of attorneys at the Kendrick Law Group and Champion Title & Closing to learn more or to obtain one of our customized closing guides.