The Title Company
It is also up to you, the buyer, to choose a Title Company. The title company will handle all of the legal aspects of the deal. The title company is composed of lawyers who specialize in the residential real estate sales law. In Baton Rouge, Louisiana title companies generally cost $500 or so for their services from start to finish. It varies from title company to title company.
What exactly does the title company do? Here is a list of things that real estate title company performs:
- Research the background of a seller.
- Research the background of the property up for sale.
- Ensure the seller of the property is the proper owner
- Ensure the title is clear.
- Ensure that there are no liens on the property. (A lean is a debt that is owed in relation to a particular property.)
- Ensure that the proper papers are signed at closing.
Your real estate agent will get them the proper paperwork that they need, as well as handle any inquiries about the property.
On the day of purchase, the buyer, the seller, and their real estate agents will usually meet together at the physical office of the title company in a room with a large table. They will sit down and for the most part the buyer and the seller will be instructed by the closing attorney on which papers to sign. When a mortgage is involved in the financing of a home the paperwork for the homebuyer is larger than if they were paying cash. The buyer's bank official who is originating the loan will likely also attend the closing meeting with paperwork in hand. Your real estate agent can help field any questions you have at this point in regards to the sale of the home. Your real estate agent will also work to ensure that all obligations under the real estate purchase contract have been fulfilled.
