What is a Title Company?

When purchasing a new home, title companies provide an essential service to ensure the transaction goes smoothly and without any issues. In this blog, we will discuss title companies and their role in the home-buying process.

Check out our video featuring guest host Lynne Scott from First Centennial Title Company for more details → What is a Title Company? | Real Estate | Reno / Sparks | First Centennial Company 

A title company acts as a third party in a real estate transaction to ensure that all aspects are handled correctly. This includes making sure that funds are dispersed and that the seller receives their proceeds. They also collect loan funds and make sure that the title is clean, meaning that there are no liens or second loans that were not disclosed to the buyer.

Why is having a clean title so important? If a buyer purchases a property with a lien against it, they will become responsible for that lien. This could lead to serious financial problems down the line, so it is essential that the title is free and clear. Additionally, a title company provides insurance to ensure that the transaction is valid and that the buyer s protected in case of any issues that may arise after the sale.

Title companies also work to resolve any issues that may arise during the transaction process. For example, if the seller is not able to provide a clean title, the title company will work with them to resolve the issue or may even cancel the transaction altogether.

While title companies may seem like an additional expense during the home-buying process, they are essential for protecting buyers and ensuring that everything goes smoothly. The peace of mind that comes with knowing that your transaction is being handled by professionals is priceless.

Title companies are an essential part of the home-buying process. They act as a third party to ensure that all aspects of the transaction are handled correctly and that the buyer is protected. If you are in the process of purchasing a home, we encourage you to work with a reputable title company to ensure a smooth and stress-free transaction. We are happy to help connect you with our preferred title company vendors. Just drop us an email or give us a call at 775-525-0309. 

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