What Are the Duties & Roles of a Title Company?
The escrow agent, also known as a "closing" or "settlement" agent or officer, is an impartial third party who plays the important role of overseeing the final details of a real estate transaction. Without a closing, there is no sale.
A closing begins when a purchase and sale agreement is signed and ends when the property changes owners. Typically, the process takes four to eight weeks.
The escrow or closing agent's general responsibilities include:
- Holding financial deposits in trust
- Writing detailed closing instructions based on the purchase agreement
- Gathering all legal documents related to the transaction
- Ordering a title examination or preliminary report on the property
- Clearing all title issues discovered during the search
- Securing title insurance
- Collecting documents from the buyer's lender
- Making sure all terms and conditions of the purchase contract are met
- Recording the deed and other necessary documents
- Ensuring that the process moves along smoothly and that the transaction closes on time
Who We Are
Main Street Title Group, LLC, is locally owned and operated by fully licensed title agents in Harrisonburg, Virginia, since 2005. With over 30 years of experience in the industry, we have the tools necessary and the knowledge needed for a smooth transaction. Our fees are competitive, and we pay very close attention to the details. By using our services, we are guaranteeing your satisfaction.
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