I'm selling my Condo...I thought the Bank was the Title Company that I will file the transfer of owner too.
2007-02-01 12:10:30 · 3 answers · asked by kikaida42 3 in Business & Finance ➔ Renting & Real Estate
A title company is a company which prepares the Title Report. They research the property and check al county records and then they use that information to prepare a report. Your bank will want to see the report before sending all the documents to esrow.
Often the title company is ALSO the escrow company. The escrow company coordinates the signing of the documents that the bank sends to them (your loan) and all disbursements (The funds that go to the seller, the funds they collect from the lender or you....etc.)
The bank DOES NOT file the transfer.
2007-02-01 13:34:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The title company is the office that will actually perform the closing for you and the buyer. The prepare all the paperwork to transfer title from you to them. then the record it at the town hall.
Do you have a realtor that could explain this?
2007-02-01 20:15:28 · answer #2 · answered by frankie b 5 · 0⤊ 0⤋
I tittle company also insures that the property is free of liens before it is transferred to the person who is buying it.
If you have any other questions be sure to ask them in my forum. It is just getting started but its pretty helpful
2007-02-01 20:35:14 · answer #3 · answered by explicted1 1 · 0⤊ 0⤋