What a Title Agency Does for By-Owner Sellers

WHAT A TITLE AGENCY DOES FOR
BY-OWNER SELLERS
Florid Titl Insuranc
WRITTER: LARRY PEREZ - PHOTO: AMELIA DEAN

There are many reasons for
buying or selling a home
without the assistance of a
realtor, but one service
provider you can’t complete
a “for sale by owner”
transaction without is the
title agency. Using a title
agency not only ensures that
your closing goes smoothly,
it also safeguards your
transaction.What Does a
Title Agency Do?A title
agency’s job is to make sure
the closing happens. To do
this, the agency will make
sure all the paperwork is in
order, conduct a title search
and order the reports and
surveys needed to transfer
property ownership.Two of
the biggest contributions of
the title agency are the title
search and providing title
insurance.A title search is a
public records examination
of the property’s title. This
research determines that the
property is clear of liens and
is eligible for sale. The very
last thing you want to do is
buy a house and then find
out there are liens against it,
or worse, a co-owner didn’t
sign o on the sale! A title
search will uncover issues
like these so they can be
resolved before the closing.
Title insurance is required by
most mortgage lenders. This
insurance protects the
lender (and a separate policy
protects the buyer) from
unforeseen defects in the
title. These problems usually
don’t show up in the title
search, which is why this
extra protection is needed. A
title insurance policy means
the title company will help
you defend you from claims
against the title. It’s a onetime
fee, paid at closing and
never again.
IMAGE SOURCE
ARTESIAN
TITLE
ARTICLE SOURCE:
FOR SALE BY
OWNER

Other Services from the
Title Agency
• Closing Facilitation: The title agency can host
and facilitate the closing on neutral ground. As
an impartial service provider, the agency does
not work “for” the buyer over the seller, or vice
versa. The title agency just wants the sale to
happen, and it’s their job to make sure it does. A
title agency does this by collecting all of the
documentation needed from both sides, making
sure it’s all filled out properly and signed.
Having a second set of eyes to look over
everything is especially helpful in a by-owner
transaction.• Paperwork Filing: The title agency
files the closing paperwork with the appropriate
government agencies and makes sure the buyer,
seller and mortgage lenders all get copies of the
closing documents.• Escrow and Notary
Services: Title agencies can also act as escrow
agents, hold earnest money and disburse funds.
They can also provide notary services for
document completion.The important thing to
remember is that the title agency is there to help
you with your by-owner transaction when you
might not have any other real estate
professionals assisting you and looking over the
contract to make sure everything is in
order.Jennifer Ferri is the Owner and Operator of
Title Junction, a Florida-based real estate title
agency. Title Junction provides for sale by owner
help in Fort Myers and Cape Coral, Florida.