Need For Title Deed Search in Bethlehem and Easton, PA

Posted by TraditionalAbstractPA on March 14th, 2023

Real estate dealings seem highly complex, with numerous things to consider accurately. Admittedly, a single individual cannot get the hang of things choosing instead to communicate with a seasoned professional or company for settlement services in Nazareth and Allentown, PA. The term itself is a trifle confusing, as a layperson would be unable to grasp its meaning fully.

No worries! One may always turn to a title company to get the answers and proceed thereafter. It is interesting to know that when an individual desires to buy real estate, the title company steps in to shoulder its entire responsibility. It is the said company that will ensure a proper title search and have the results handy before providing the required title insurance to satisfy the lender. One may buy the homeowner’s title insurance in addition to protecting the property and retaining the ownership despite challenges that may arise at a future date.

The title company would coordinate with other related professionals, namely the real estate agent, property lawyer, taxation expert, and the lender’s representative if required. A date will be scheduled with the consent of all others for closing the transaction and transferring ownership of the concerned property. It is alternatively known as the settlement date.

The buyer is expected to sign all relevant documents in the presence of the aforementioned representatives to ensure the transfer of ownership from the seller to the buyer. The documents are sure to include mortgage papers, tax documents, and homeowner’s insurance. There are several legal necessities to be considered as well. The transfer of stamps is usually necessary but will depend upon the concerned jurisdiction. The buyer would also have to pay the property taxes to separate the ownership as well as pay other related fees either singly or together with the seller as per the legal necessity.

Financial experts will calculate the actual figures according to the state and local laws applicable to the property transaction. The title company will also be responsible for overseeing the deposition of loan funds, paying the existing mortgages, and other legal commitments between the lender and the new property owner honored. The corresponding papers are prepared meticulously and transmitted as per the law.

This is not all, though! The title company will make sure to have the newly drawn-up property deed and information about the mortgage duly filed and recorded in the county or local recorder’s office. This ensures that all information related to the concerned property will be retained in the public records and revealed during future title searches.

The title company will further prepare and hand over the closing or settlement statement to all the concerned parties. The disposition and the closing costs are thus conveyed to all applicable parties who sign the document as a mark of concurrence.

 Settlement or closing is the last stage of property ownership transfer. The process begins with a title deed search in Bethlehem and Easton, PA, that an experienced title company best handles.