Title Insurance Services We work with underwriters throughout Pennsylvania to offer protection for pending sales. Title insurance protects the buyer or seller in the event of liens or other issues with the property's title.
What is a title company responsible for?
The role of a title company is to verify that the title to the real estate is legitimately given to the home buyer. Essentially, they make sure that a seller has the rights to sell the property to a buyer. The title insurance company also may be responsible for conducting the closing.13 Dec 2021
Is title company the same as closing agent?
A “title agent” is technically a licensed insurance agent who issues title insurance to purchasers and lenders. A “closing agent” is technically the person who sits down with the buyer or seller or borrower (or all three) and goes over the documents with them and answers their questions.27 May 2020
What is the difference between a title agency and a title company?
The Title Company is responsible for finding out the background of a title and ensuring the home buyer can purchase a clean title with full rights to the property. The Title Agency or Settlement Agent helps the home buyer complete all necessary paperwork to make them the rightful property owner.13 Jul 2020
Does Pa use title companies?
In both Pennsylvania and New Jersey the home buyer/borrower can choose their own title company. Your title insurance company will conduct settlement and insure that all liens and judgments affecting the property to be purchased have been satisfied.
Is Pennsylvania a title closing state?
Several states have laws on the books mandating the physical presence of an attorney or other types of involvement at real estate closings, including: Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New
What does a title company do in PA?
We coordinate the closing appointment, collect your documents, and support everyone involved. Our team also disperses funds, copies documents for your records, and answers any questions you may have.
What states use title companies?
States in which full-service title companies are common include Michigan, Ohio, Pennsylvania, Indiana, Missouri, Illinois, Wisconsin, Minnesota, North and South Dakota, Nebraska, Kansas, Colorado, Wyoming, Montana, Idaho and Utah.8 Aug 2018
What is a closing company?
Closing. Title companies usually manage the closing on your home. This service may be called “settlement.” They appoint a signing agent or real estate attorney (depending on what your state requires) to review all closing documents and finalize the deed and title transfer.6 Jan 2022
What is the difference between title company and escrow company?
The title company insures the property's title with policies to the buyer and the lender to protect against problems with the property or the title. Escrow is the arrangement of one company holding and managing the payment of funds required for two parties in a given transaction.27 May 2020
Who chooses the closing company?
Under the law, really it's up to the parties to decide. It's a completely negotiable term. Each party or each side has an interest in choosing the closing agent. For the seller, they're the ones that have to provide clear title at the seller's table.
Who chooses the title company in a transaction?
buyer
How is a title company selected?
The accepted practice in real estate industry is for the buyer to submit an offer to purchase a property either alone or through an agent. The buyer will then select a title company. If the buyer is purchasing or paying for the policy, then arguably, he/she also has the right to choose the title company.24 Jan 2022
Does Pennsylvania use title companies?
Second, under federal law, if a real estate buyer uses a (federally-related) mortgage loan to purchase a primary residence, a seller is prohibited from requiring the use of a particular title insurance company. In the Commonwealth of Pennsylvania, you DO have the right to choose your title company!5 Aug 2021