The process of buying and selling real estate can seem daunting. Like, why do I have to fill out all these papers and what is the point of getting so many people involved?
We can say, without a doubt, a Realtor makes the process run much smoother, but without a Title Company, you may as well be gambling away your money.
A title company, in essence, is your main protection when purchasing real estate. Their job is to make sure the purchase is legitimate prior to the closing and issue title policy insurance to protect you against any future claims or lawsuits regarding the property and any disputes there may be.
The title company is also in charge of escrow accounts. Escrow is a big word that basically means all the funds that are up in the air. A third party (the title company) handles these until the date the property closes. Then, at closing, your settlement agent brings all the necessary documents to transfer the title (much like when selling a vehicle) and distributes any money owed to all parties. Lastly, they file all the paperwork with the appropriate entities for you!