Escrow Services: Important Things to Know
If you’re buying a home, it’s important to utilize escrow services you trust. Before you head to the title company to sign your closing documents, there are a few key things that every buyer and seller should know about real estate escrow services and what they can do for you. Read on to learn more about the process and the people involved so that you’re prepared for closing. First, the title company is there to make sure that the title to your home is clean and free from any issues. Some common issues with a real estate title may include liens, forgeries, fraud, or judgments. All of these must be cleared before you can close on your home, so the title company is there to verify that everything is in the clear, so you’re protected from any future problems.
Once you have a clear title, you’ll need the help of professional escrow services. These services are a neutral third-party that helps to handle all title and escrow work including anything related to the financing and other paperwork regarding your home purchase. Real estate escrow services work on everything from new home purchases to title transfers, refinances, and more. Their job is to safeguard all documents and make sure that everything is filed in an accurate, timely manner.
If you need advice or help to choose a closing agent, talk to your real estate agent. They can recommend closing agents but you may also want to ask your friends, coworkers, or family members for referrals. The referral should be for the title or escrow officer and not the company itself. Finally, it’s important to shop around for the best deals. Not all title companies charge the same amount and this can have an effect on your final closing costs. It’s your right to shop title companies, so do your due diligence so you can get the best escrow services for the best price possible.