Most likely, a home purchase will be the greatest financial investment of your life. For that reason, Boundary Title & Escrow of Athens, Alabama is dedicated to making sure your transaction goes smoothly and you get the protective insurance policy you need. No matter if you’re buying, selling, or a professional agent, you can count on Boundary Title & Escrow to provide the title services you need with industry-leading professionalism and expertise.
While buying or refinancing a home may seem like a lot to manage, it can be relatively straightforward if you’ve got the right team in your corner.
First, you’ll need a professional realtor who’s familiar with the Athens, Alabama area. They’ll get you started because finding your new home comes before buying it, both of which they’ll help you arrange. If you’re buying, you’ll typically be the one responsible for selecting a title company. You’ll also be covering most title service expenses.
Since your agent is already embedded in the local real estate market, they’ll likely have quality contacts you can take advantage of. They should be able to recommend a reputable title company for you. Aside from your realtor, speak with family and friends who recently bought or sold a home. If they have positive things to say about the services they received, then you’ll have a strong lead already.
There are a lot of moving pieces in a real estate transaction, so it’s understandable to have trouble remembering who does what and why.
The major parties involved in the transaction are typically:
- The private seller
- The private buyer
- The realtor or agent
- The lender
- The title company
Most likely, the title company is the one party you may not entirely understand. The buyer and seller are relatively self-explanatory while real estate agents are fairly public-facing and well known. The lender, of course, is the institution that provides the loan used to purchase the property. That leaves only the title company to be explained.
Title companies handle and close escrow accounts for the buyer and seller, perform title searches, commission property surveys, provide title insurance policies, and generally ensure the transaction goes smoothly.
To go into a bit more detail, after an offer has been accepted in a property sale, a title is ordered and a title search is performed. These searches can show all manner of defects on the title, which can be handled ahead of the transaction to ensure a seamless transfer of ownership.
The title company may order a survey as well. This is done if there is any ambiguity around the property’s boundaries, or if there is suspicion the existing records may be fraudulent or have errors.
After these steps, the title company will provide title insurance policies to both the buyer and lender. The lender’s title insurance policy protects their stake in the property while the borrower repays the loan. The buyer’s title insurance policy, more often called the homeowner’s title insurance policy, protects the homeowner’s interest so long as they are the owner of the property.
With a financial stake as large as the one you take in selling or purchasing property, it’s important you trust the people handling your business. Boundary Title & Escrow guarantees professional and expert service, so be assured we’ll handle your Athens, Alabama transaction like it was our own. From performing title services to closing escrow accounts, Boundary Title & Escrow will do things the right way.
If you’re selling your home in the Athens, Alabama area, there are steps you can take to maximize your proceeds from the sale. After you’ve found a real estate agent you trust, take some time to perform a deep clean of your home. Even spending some money now on a detailed cleaning may pay dividends when it’s all said and done. Also, consider repairing anything you may have been putting off. All of this is in service of creating the best possible impression on potential buyers.
Typically, when it comes to title services, it’s more often the buyer who will be responsible for selecting a title company to work with. That said, you’ll still be expected to cover some expenses and provide input during the process. These are some of the expenses that might pop up for sellers:
- Real estate agent fees
- Tax transfers
- Homeowners Association fees
- Termite Bond fees
- Any warranty fees
- Anything else otherwise designated as “seller paid”
Of course, these fees will be deducted from the proceeds of your sale, so it’s unlikely you’ll have any out-of-pocket expenses. In any case, financial responsibility means knowing your expenses.
Buying a house is no small investment. It’s important to have a professional and experienced title company helping you navigate the process. As a buyer, you can expect the title company to:
- Determine any potential issues relating to the title
- Offer title insurance policies to buyer and lender
- Handle the fine details of closing the sale
While your homeowner’s insurance protects you in the event something happens to your home, homeowner’s title insurance protects you if something already happened to your title that you were unaware of. Once you take ownership of the property, you’ll be responsible for the title, which means you’ll need help if something goes awry. Homeowner’s title insurance will provide that help.
Maybe you’re considering refinancing for more favorable rates. This can be a smart, strategic move if the situation is right. Refinancing can mean shortening your payoff period or reducing monthly payments. You might be wondering how your title insurance will be affected by refinancing, though. While your homeowner’s title insurance policy will remain unaffected, a new lender’s title insurance policy will need to be taken out. The lender’s policy only persists as long as the conditions and origination of the loan don’t change.
The title search process can vary in terms of how long you can expect the entire thing to take. A lot of factors come together during the process, and any one of them can adjust the timeline. Generally, the title search will take longer on an older property. The more times the property has changed hands, the more opportunities for complications. That means there will be more records to investigate and more care needed in validating everything.
Title companies are typically paid in proportion to the value of the transaction and the jurisdiction the property falls under. Almost always, the expenses will be a one-time fee included in the closing costs. Consult your title company representative for a detailed breakdown of your expenses.
We strive to bring our best service to every client we work for. We make exceptional service and the highest standard of professionalism our first priority. Just take a look at what our clients have to say about the service they received.
“As a Realtor, I get to interact with many different title companies/closing attorneys. Elise stood out from the very beginning with her timely responses and excellent customer care. We weren’t just another number at Boundary Title, and the difference was palatable! LaToya, the closing coordinator, was a delight to work with, too! Thank you Boundary Title for chasing excellence in this crazy industry! I can’t wait to work again together very soon!”
Looking for a rewarding career in the title industry? Boundary Title is looking for top talent to expand our team. If you have an eye for details, enjoy helping people, and work well in fast-paced environments, we would love to speak with you! Give us a call today at (256) 291-9720 or contact us online.
This material is provided as a courtesy and for educational purposes only. Please consult your title professional for specific information regarding your situation.
Boundary Title Office
200 Clinton Avenue West, Suite 315,
Huntsville, AL 35801
Boundary Title is located in the tallest building in Downtown Huntsville known as the Regions Center. The building has an attached parking garage where guests are welcome to park in any of the non-reserved, open spaces. Guests will receive tokens to get out of the parking garage after their visit.
When you walk into the building through the glass doors, you will find the elevators straight ahead. Take any of the elevators to the 3rd floor and our office will be visible as soon as you step off the elevator. We look forward to seeing you!