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What Does a Title Company Do?

What Does a Title Company Do?

Website: QuickenLoans
URL: Blog
Author: Hanna Kielar (read bio)
Date: December 13,2021

When buying a home, one of the players you’ll deal with in the process is the title company. 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.

Once a title insurance company has done its verification, it will back that guarantee with title insurance, which protects the lender and/or owner in the event that someone comes along and makes a claim to the property in the future.

The title insurance company also may be responsible for conducting the closing. It will maintain escrow accounts where your closing costs are kept until the day you close your loan. In some cases, the company that handles closing and the company dealing with title and title insurance will be different.

Read the rest of Ms. Kielar’s blog post on QuickenLoans!

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