The Title Company (step 4)
The Title Company is where the home purchase comes together after all the hard work and preparation by the lender, realtor and you. If you are ever purchasing a home or any other property and someone suggests closing without using a title company or getting title insurance you should not do the deal. Title companies are instrumental in making sure that the property you are buying can legally be sold to you by the seller. When this is verified they will issue you a title policy. This title policy will protect you in the event that any issues arise as to the ownership of the property in the future. Historically, sellers pay the title policy fees which are regulated by the state. Regardless of the title company used, the title policy will cost the same. Another benefit of using a title company is that they are the clearing house for all the contract documents and documents prepared by the lender for your mortgage and make sure that everything is signed correctly and officially filed at the courthouse.