What does a title company do?
If you’re buying or selling a home, you’ll need the service of a title company. If you’re not familiar with the home buying, selling or refinancing processes, you may not know what a title company really does. The title company is one of the most important third parties you will work with throughout the entire transaction.
Why are they important?
Title companies work as a third party during the process of buying/selling a home. They review public records to inform all interested parties of the status and condition of title to the subject property. Title companies also provide research information related to foreclosures and any other legal action.
Generally, this information is provided to each of the parties in the form of a preliminary report, or commitment for title insurance. They are an essential factor in all real estate transactions.
Title company fees-
Title company fees are part of the costs when closing on a home. The title company closing costs in Idaho are about 2 to 5 percent of the final purchase price and include a list of fees and services you must pay.
Title company fees include-
- Cost of services provided
- Escrow fees
- Title company closing costs
- Cost of title insurance
- Title search fee
How do I pick the right title company?
Title companies are often recommended by the real estate agent, lender or attorney involved but, you are not required to select the title company referred to you. Spend some time researching title companies in your area. Check online reviews and make sure to ask lots of questions- especially if it’s your first time.
Questions to ask the title company-
- How is my investment protected?
- Should I be concerned about wire fraud?
- How do you protect against fraud?
- How much liability insurance do you offer?
- How much coverage do I need and why?
- What is your ratio of title claims to customers?
Try to choose a title company based on the answers to these questions, as well as its customer service, reputation and familiarity with other professionals involved in the transaction- including and especially your real estate agent.
Who we recommend and why-
Located at Kenworthy Plaza in Moscow, Moscow Title Company continues to provide top- notch services for the clients and agents of Latah Realty, LLC. They minimize closing delays, maximize the use of your time, and help clients close quickly. Moscow Title Company understand the complexities of title and closing
Latah County Title Company is a locally owned and operated business. It was started in 1895 and incorporated over 100 years ago in 1912. Located on the corner of Main & Second Street in downtown Moscow. They always make the process very easy, and the closing officers are extremely helpful and ensure that everything will go smoothly.
