Metairie Title Company
Title Company Metairie
At the start of American history, if you wanted to purchase property, then you needed to work with a person known as a “conveyancer.” These people made sure that properties were not owned by anyone other than the seller and that there were no liens on them. Modern title companies around Metairie today perform the same due diligence for clients as conveyancers of the past but with the added benefit of providing title insurance in the event of any problems with a title.
What is a Title?
A title is the ownership record of a property, such as a home or a vehicle. The title shows who owned it in the past, contains a description of the property, and includes any information about present liens. For example, if you buy a home, then your mortgage will be a lien on the title. It’s different from a deed document, which you’ll get at closing that says you own the property.
What is a Title Company and What Does it Do?
Title companies near Metairie are third parties that work for the benefit and security of both the buyer and seller. They’re hired to perform due diligence and to insure the title of a property being purchased. Title companies are important because if a home, for example, is purchased without knowing who actually owns it legally, then the new owner currently living there might only own 50% of the property, causing calamity for everyone. A reputable title company nearby, such as Crescent Title, will not only perform due diligence but also provide buyers with title insurance that protects them from liability as part of the closing process. Now that you better understand why a title company is so important when buying a property, you can learn more about the finer details of their services.
Metairie Title Research and Property Surveying
Crescent Title will conduct a thorough property survey to make sure that a home occupies only the area indicated on the title. After all, you don’t want to find out that the home is actually on someone else’s property or that a neighbor’s fence is actually on your own. After researching a property title, clients are provided with a “title abstract” report that lenders may get a copy of to look at before the sale is closed.
Title Insurance
Title companies around Metairie provide title insurance for both lenders and buyers alike. Since mortgage lenders have financial interests in properties, title insurance protects all parties financially and legally should an unknown party come with a claim on the property that was somehow missed during the title research process.
Typically, it’s the seller of the property who pays for the title insurance policy of the buyer, and the buyer pays for the policy of the lender. Thankfully, title insurance only needs to be paid once, unlike most other insurances. Clients will be covered under the title insurance plan for as long as they own the property.
FAQs
Commonly Asked Questions About Title Companies
Title companies near Metairie work to close property sales smoothly and eliminate hassle. It’s normal for people who are unfamiliar with the process to have questions about title companies nearby; Crescent Title has put together a list of some of the most common ones here:
1) Do I Need to Work With a Title Company?
Although working with a reputable title company nearby is typically required by mortgage lenders, it’s not required by the law itself. That being said, it’s a much better idea to work with a title company than to go it alone, especially if you’re paying in cash, so that your investment is protected.
2) Can Title Companies Remove Liens?
While title companies in Metairie cannot remove liens themselves, they can work with sellers and buyers to negotiate outcomes regarding liens discovered while researching a property title. It’s up to the seller to determine what actions they’d like to take.
3) Who Chooses the Title Company to Work With?
Both buyer and seller may use a different title company to represent them; there is no law insisting they use the same one or one that’s recommended by the other party.
4) What Problems Can a Title Company Discover?
Experienced title companies near Metairie, like Crescent Title, can find problems with titles such as:
- liens
- outstanding loans
- special assessments
- undisclosed heirs with property claims
- unpaid fees for work performed
The Best Title Company
in Louisiana
Crescent Title works to protect your financial interests while making sure that your title transfer happens smoothly and with minimal hassle. With decades of experience, we’ve closed countless sales, and we continue to expand our property title services in Metairie and beyond. If you’re ready to work with the best title company around, call or email Crescent Title today to start the process!
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Lindsey Silva
(504) 888-9222 LindseyS@CrescentTitle.com
Daniel M. Douglass
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