Frequently Asked Questions
What does the title company do and how are they involved in real estate transaction?
Title companies play an integral role in the closing process of your real estate transaction. We are responsible for managing the closing process and conducting the actual closing and signing of your documents. It is our responsibility to coordinate the interests of all parties in a real estate transaction including the buyers, sellers, mortgage lender, and the real estate agents and to ensure that all requirements for settlement are fully satisfied.
Our main function in the real estate transaction is to issue title insurance but we perform many other vital functions in the closing process. Celebrity Title:
- researches the title to the property
- works with all parties to clear any title defects and encumbrances
- verifies that all taxes and association dues are current
- coordinates with the lender to receive all documents necessary for State and Federal Laws
- coordinates with all parties to schedule a closing date and time
- prepares the settlement statement according to the lender’s instructions and terms of the sales contract
- conducts the actual closing and signing of documents
- collects and disperses all funds related to the transaction
- prepares and ships the lender’s closing package
- records the documents in the courthouse such as the Deed, Deed of Trust and Releases for any existing liens satisfied at closing