Importance Of Obtaining Real Estate Title In Lehigh Valley And Bethlehem, PA

Posted by TraditionalAbstractPA on January 12th, 2021

Property transaction does not involve only the buyer and seller. Often, one gets to witness a third party that holds the necessary documents and the sum of money before a successful transaction. While there is no rule against citizens offering escrow services, it is often financial or commercial companies that take on this role. It is usually customary for all concerned parties to agree upon hiring a specific company that can provide escrow service in Easton and Allentown, PA.

Almost all companies work with the help of an escrow agent who has the required knowledge and experience. While such agents are often qualified legal professionals, there is no stipulation associated with the agent's eligibility. The said individual has a fiduciary responsibility to both the buyer and seller and acts accordingly.

The process begins with the agent being entrusted with all legal documents and the money that needs to be exchanged between the primary parties. The escrow agent maintains funds, titles, cash, and securities until the property changes hands following a successful transaction process. The escrow agent's role is vital because it helps mitigate the risks of fraudulent transactions or non-payment after the transaction. It is the escrow company that facilitates the entire process and ensures a change of name in the title.

Selling and buying property can be hassle-free with a smooth transaction ensured by the escrow company. The interested parties need to hire the right company or an agent to act as a go-between for providing escrow services in exchange for a fee. The parameters that one needs to consider for finding a company capable of providing escrow services include:-

· Reputation- It is essential to check the reputation of a company before hiring the services. A quality company should not have any complaints about unethical behavior lodged against it. An escrow company that fits the bill should be professional in its dealings and ensure attention to detail while handling professional tasks.

· Resources- It is essential to have an escrow company with the required experience of handling similar tasks before. It would be best to inquire about the resources to be satisfied with the upcoming transaction quality. It might also be a good idea to discuss matters with an escrow agent who would be handling the specific task.

· Location- True, physical locations do not matter much today. However, it is advisable to opt for a company located in the same district or town. Sure, one might not have reasons to visit the office, but the escrow company's agents have an idea about specific rules about property transactions in that part of the country.

· Costs- It is not entirely feasible to learn about the exact amount involved in escrow services before hiring a company. A company that is willing to share specific services is a genuine one.

It is essential to check the existing title about a property by hiring a reputed company willing to search for a real estate title in Lehigh Valley and Bethlehem, PA, before investing in the said home.