For many, purchasing a home will be the largest financial move they’ll make in their lifetime. Selling or refinancing are similarly important moments. Let Boundary Title in Madison, Alabama work for you to ensure a fast and professional closing. No matter if you’re a buyer, seller, or a market pro, Boundary Title offers the title and escrow services you need to close the deal.
How to Choose a Title Company
If you’re at the beginning of the process, buying and refinancing can be daunting. There’s no shortage of steps to complete and rules to navigate. But, with the right team of professionals working for you, you won’t have to worry about all the ins and outs of real estate transactions.
Start by finding a qualified realtor who knows the local market. Local knowledge is important because local markets differ considerably. Having access to local expertise like that of Boundary Title in Madison, Alabama is crucial for getting the best results. Another benefit of having a qualified local realtor is access to their valuable contacts. Most realtors will be able to recommend quality service suppliers for your legal and financial needs during the transaction.
Once you’ve worked with your realtor and are ready to initiate a transaction, you’ll need access to a title company. Consider your realtor’s advice, ask around with family and friends who have been through the process before, and read online reviews to determine what title company you should follow up with.
With so many moving pieces and so many important contributors, it’s difficult to remember who does what and why in a real estate transaction. The title company is responsible for handling escrow accounts, performing title services, and closing transactions. They’ll also arrange for property surveys and issue insurance after investigating the title history.
Once the transaction is underway, the title company will perform a thorough title search. This search will turn up any outstanding issues with the title like existing liens or even contested ownership. A clean title is necessary for the smooth transfer of property, and the title company aims to ensure it.
A survey might be conducted to ensure that the boundaries of the property are legitimate. Otherwise, mistakes or fraud might prevent you from getting all the property you’re paying for.
Finally, the title company will issue title insurance to both the lender and the purchaser. These policies will protect the buyer from any unforeseen issues with their title after they take ownership. For the lender, it’ll ensure that those same issues don’t threaten their financial stake in the property before they’ve recovered their investment.
As we said before, real estate transactions are no small matter for our clients. At Boundary Title in Madison, Alabama we are aware of how important this moment is for you and your family. You have our promise that our talented team of professionals will put their years of experience to work for you to ensure an expedient and financially sound transfer of property. From performing title searches to issuing insurance policies, Boundary Title will provide the professional service our reputation demands.
If you’re looking to sell your home in the Madison, Alabama area then there are a few steps you should consider before listing on the market.
Before you start the formal process, take the time to cover the little details that’ll make your home even more attractive to buyers. You might just find that a small investment of time pays dividends when it comes to your closing payout.
Before you sell, remember these tips:
- Deep clean, either yourself or with professional help
- Knock out any small or neglected repairs
- Tidy up the house.
The last step will make your house more appealing to prospective buyers and also save you time later when you’re vacating.
You’ll need to work with a title company to sell your home, but it’s typically the buyer who decides the company that’ll handle the process. That means you won’t have to deal with quite as many details when it comes to the closing, but you should be aware there are closing costs you may have to budget for. Just because these will likely be covered as a deduction from the sale price doesn’t mean you shouldn’t be aware of them. You’ll likely be responsible for:
- Real estate agent commissions
- Tax transfers
- Insurance premiums
- Homeowners Association Fees,
- Termite Bond Fees
- Home Warranty fees
- Anything else designated as “seller paid” within the contract
Be mindful of these fees so you can account for them in your own finances.
For buyers, title companies serve three primary functions.
- Determining any issues that may obstruct your taking ownership
- Providing title insurance policies to both buying and lending parties
- Overseeing the closing of escrow accounts and the transaction itself
Boundary Title in Madison, Alabama can take care of these details for you, so you can focus on getting into your new home.
As the buyer, you’re likely going to be doing most of the decision-making when it comes to selecting a title insurance company. Remember to follow the above advice concerning recommendations, client reviews, and local knowledge when you’re making that choice.
If you’ve decided to refinance your home, you may be unsure of the status of your title insurance. Well, the good news is that you don’t need new title insurance as the owner of the property. The policy you received when you initially purchased the property should still be good. its coverage persists until you are no longer the property owner. However, that doesn’t mean you don’t have any title insurance obligations.
New lender’s insurance will need to be purchased because the conditions of the loan have changed, or in some cases, the institution providing the loan has changed. In either case, a new loan means a new lender’s insurance policy.
Let Boundary Title in Madison, Alabama handle your title needs during your refinancing.
Now that you know a little more about the process, you may be wondering what kind of time frame these things move on.
Because real estate transactions are such a serious business, title companies are inclined to do their due diligence, which means a variety of factors can extend the process should the need arise.
Generally, a title search should take anywhere from 10 to 14 days, but as stated, a variety of factors can adjust this estimate. One thing you should keep in mind is that an older property will require a more extensive investigation, so expect a little more time for a very old house.
At Boundary Title, we work hard to ensure that every client is satisfied. Our standards of professionalism and expertise have earned us a reputation that we intend to safeguard in our continued business. Take a look at what recent clients have to say about us.
“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!”
– Ada Handley
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!