“The customer service I received was far beyond my expectations. I want you to know that I received exceptional service. It seems that customer service is dying in a lot of companies, but eTitle has mastered it to a tee.”
No hidden costs or fees.
At eTitle, we are your low cost, high performance title company. With our flat rates, we have no hidden costs or fees.The role of a title company is to coordinate the interests of all parties in a real estate transaction including the buyer, seller, lender and real estate agent, and to ensure that all requirements for closing are fully satisfied.
The title company’s first step in the process is to research the property’s title through a title abstract. An abstract:
- provides a history and legal owner of the property
- identifies liens, judgments, or unpaid taxes that have to be cleared before the property is sold
- details existing easements, restrictions, or leases that affect the property
After the abstract is completed, the title company will issue an insurance commitment for the title insurance policy. There are two types of title insurance: Lenders and Owners.
The title company also coordinates with the mortgage lender to receive the loan documents for closing and ensure they comply with the lender’s requirements for closing. With these documents, the HUD-1 settlement statement is completed. This statement is one of the most important documents to sign and the title company will review it in detail at closing. The title company also prepares the deed and other documents necessary to comply with state and federal laws.
At closing, which lasts about one hour, the documents are explained to all parties prior to signing and all questions that may arise are answered. After signing, all money collected is disbursed and all vendors are paid such as the termite company and surveyor. The existing mortgage on the property is paid off and released, and the loan documents are prepared and returned to the lender.
Finally, it is the title company’s responsibility to ensure all documents are recorded at the Register of Deeds.