Choosing a Title Company

When choosing a title company, it’s important to opt for a reputable and experienced agency, such as Capitol Title Group. In the earlier days of purchasing property, if you wanted to buy you had a conveyancer handle your transaction. It was their job to figure out if the property title was unencumbered. If it was, then no other person besides the seller has ownership to it. If there are no liens on the property, then no one else can take the property in order to satisfy a debt. However, there was no guarantee that conveyancers were held accountable if they made a mistake. 

Fast forward to today, and title companies research the titles of properties similar to how conveyancers did. And in the rare event that an issue turns up that they didn’t find, you’re still covered through title insurance. 

What a Title Company Does

A third party that works for both the buyer and lender is called the title company. You hire a title company to investigate further into the home you are considering purchasing, so that you feel more confident about the transaction. Title companies look into what is referred to as “chain of title” or complete history of the property ownership. A title company would be able to reveal that there is a second owner and halt the sale before you close on mortgage.

When choosing a title company, such as Capitol Title Group, you can rest assured knowing you won’t have to find out these complicated details the hard way. Here’s an example of why a title company can make all the difference in the success of your property purchase:

You are thinking about buying a home but decide not to hire a title company. Down the line, you find out the seller actually inherited the house after a grandparent passed away, and only owns half of the property. You learn that the other half belongs to a sibling, who contacts you wanting his or her half of the property. This is a situation that no one wants to be in, and can be tricky to find a resolution for.

Call Capital Title Today

A property title shows who has owned a property historically, along with a description of the property and if any liens are present on it. Your title company is an unbiased third party who performs the research you may not be able to do yourself. Further, your title company will help manage the closing of your purchase. If you are in need of assistance during a new home transaction, consider calling Capitol Title Group today.