What is the difference between a real estate attorney and a title company?

What is the difference between a real estate attorney and a title company?

The real estate attorney that you retain keeps your best interest in mind and is not burdened by the conflicts of interest that a title company may have. A title company works for the title insurer and must focus on protecting their business, while an attorney focuses on protecting you, their client.

Is a title company the same as a closing company?

So, the difference between a title company and a closing attorney is that the title company will always be the one that’s insuring the title and providing the actual escrow. The closing attorney may or may not be involved in that process depending on who has hired that attorney.

What is the purpose of a real estate title company?

Summary. Your title shows who’s owned the property in the past, contains a description of the property and shows if there are any liens on it. Your title company is a neutral third party hired by you to research and insure the title of the home you’re buying. Plus, they’ll manage the closing of your home.

What does the title company do when buying a house?

When buying a home, one of the players you’ll deal with in the process is the title company. The role of a title company is to verify that the title to the real estate is legitimately given to the home buyer. Essentially, they make sure that a seller has the rights to sell the property to a buyer.

Are title companies cheaper than attorneys?

The costs of hiring a title company vs. an attorney are comparable. They are the same whether an attorney or a title agent is facilitating the process. In some cases, using an attorney can actually save the parties money by performing double duty as an attorney and a title agent; a title agent cannot do the same.

Should I use a title company?

When you are buying a new home or selling your current house, it’s important to use a good title company to ensure a smooth closing. This helps to reduce stress and gives you peace of mind from the beginning of the home buying process to the end.

Is title company the same as escrow?

Escrow companies and title companies are not the same; however, a title company can offer escrow services. This earnest money is placed into an escrow account and maintained/managed for you throughout the closing process. A title company handles many other details surrounding the purchase of property.