1. Title Search and Examination: Conducting a thorough search of public records to verify the legal ownership of a property, identify any liens, encumbrances, or other title defects, and ensure there are no outstanding claims against the property.
2. Title Insurance: Providing title insurance policies to protect property owners and lenders against potential losses due to title defects, such as liens, encroachments, or undiscovered claims to ownership. This is a standard service for title companies.
3. Escrow Services: Acting as a neutral third party to hold and disburse funds during the transaction process. Title companies handle the escrow account, ensuring that funds are distributed according to the terms of the purchase agreement.
4. Closing Services: Facilitating the closing process by preparing closing documents, coordinating with all parties involved (buyers, sellers, lenders, and real estate agents), and ensuring that all necessary paperwork is properly signed and recorded.
5. Document Preparation and Recording: Preparing necessary legal documents, such as deeds and affidavits, and ensuring that they are accurately recorded with the appropriate county office to legally transfer ownership of the property.
6. Property Tax and Lien Research: Verifying that property taxes are paid and there are no outstanding tax liens on the property. This service often includes prorating property taxes between the buyer and seller.
7. 1031 Exchange Services: Facilitating 1031 tax-deferred exchanges for clients looking to reinvest the proceeds from a property sale into a new property to defer capital gains taxes.
8. Notary Services: Providing licensed notary services to authenticate and witness the signing of legal documents related to the real estate transaction.
9. Construction Loan Disbursement: Managing the disbursement of funds for construction loans, ensuring that payments are made to contractors and suppliers according to the construction schedule and loan agreement.
10. Consulting and Advisory Services: Offering guidance and advice to clients on various aspects of real estate transactions, such as understanding title insurance policies, navigating complex closings, and resolving title issues.
