I have been in the mortgage business for over twenty years and I have been involved with hundreds of closings. Some go very well, and some don’t. The ones that run smoothly do so because the title company or attorney handling the process is competent, experienced, and organized. It may not be the biggest thing in a buyer or sellers mind, but the closing agent is absolutely crucial for a seamless, smooth closing.
Zillow says: The title company handling the loan transaction essentially handles the legal side of the deal. Lien releases and recording of new documents are handled by the title company. Many times these duties are subcontracted out to companies that concentrate on abstracts and deed recording. In other words, ownership needs to legally be transferred from one owner to another at the courthouse. Larger title companies have in house staff that handle these activities.
Title Insurance that covers the lender is required on all new mortgages. Reissue rates are many times available but not always offered. Ask your mortgage banker or title company if they offer reissue rates. Owners title insurance policies need only be purchased one time, in most cases at time of purchase, but it is not required. This is where a highly experienced title company makes a difference. Be certain to understand your options. They may vary from to state to state.
Another major step in the process for a title company is paying off the current lien. Most mortgage transactions, purchase or refinance, require another lien involved to be paid off. The title company receives money from the new lender in which a portion of the funds are intended to pay of any liens that currently exist on a property. Title companies have been known to defraud lenders.
I recommend Tyler Stephenson with National Title Group because he has followed through on every promise, organized every closing, and performed his duties with integrity and professionalism for the many years I have worked with him. He works hard to accommodate special circumstances, and will do whatever it takes to make sure each and every closing goes according to plan.
National Title Group
15050 Northwest 79th court – Suite 104
Miami Lakes,FLORIDA 33016
Phone: 305-395-4040 | Fax: 786-206-5325