What to expect from your Cape Coral or Fort Myers title insurance company

There are many expectations that we have of people we do business with. Here we outline what you should expect from your Cape Coral or Fort Myers title insurance company. A title company should not be looked at like you are going to McDonald’s for lunch. They are working for you on your real estate transaction.

The duties of a title company include:

Serving as a neutral party.  – Title agents and employees should not be taking sides as to protect a seller over a buyer. They work for the whole transaction in a neutral fashion.

Receiving authorization for escrow monies. – This can be done through a contract for a purchase. One party will designate the title company to hold escrow from the buyer (usually the seller).

Following instructions precisely and in a timely manner. – The seller, buyer, real estate agents and lender all have some instructions that will pertain to closing. It is important for the title company to work with these given to have a smooth transaction.

Paying bills as authorized. – A title company will be given invoices to pay through a closing. They will advise if this is able to be done or not.

Provide an accounting for the transaction. – All fees that will need to be collected or disbursed and paid will need to be shown on a settlement statement (HUD1).

Disbursing of funds. – It is most important that the funds be disbursed according to the settlement statement.

Transferring title and recording liens. – A title company should be sure that all documents are processed correctly in the correct county for transferring of property.

If you are ever unsure about a process, you should get a second opinion. Although you may be tied to the title company you are using, you should know what is expected from the one you use.