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When it comes to selling your home and buying a new one, finding the right title company is imperative. You'll be working together from the get go until closing day, so it's best to find someone that you can trust. What is a Deed? A deed is a legal document used to prove one's ownership of property - most often homes, land, or vehicles. It must contain a description of the property as well as the legal owner's name. The description is typically written in such a way that it can't be confused with another property. To make the document official, it's signed by the owner as well as a witness. The deed is then stamped with an official seal. While these types of deeds signify ownership, they don't always accurately reflect possession. For instance, the owner of a home usually has the official deed. Now, he may rent the home out to other occupants, but it's still owned by him while in the possession of the renters. In the case of a mortgage or loan for a vehicle, the bank holds the deed as collateral while the debt is being paid. A deed is definitely an important document. After being signed and sealed it should be stored in an extremely secure location. A firebox may be a good choice since it's locked away in a container that should survive most disasters. What is a Title Company? This type of business specializes in examining the quality and accuracy of deeds. When a home is being sold, the title company must first establish the validity of the deed. Once the research is complete and the deed found to be valid, the homeowner can begin taking steps toward selling his home. The deed business will typically stay involved throughout the selling and closing process. Choosing the Right Business When it comes to choosing a title company, there are many things to consider. Just as you wouldn't simply pick the first bank or credit union that you come across, you also need to research the business that will be handling the deed to your home or vehicle. Look at the type of business. Is it independently owned? Or is it affiliated with mortgage brokers? Going with a company that's 100% independent is often the best choice. There's no conflict of interest, which could cause a lack of service. As with any other decision, look at the business's reputation. Search for reviews on the internet. Ask your friends for their honest opinion about the title company they chose. Call their customer service number and speak with their representatives. In the end you'll want to choose a business that's reputable, ethical, detail oriented, and professional. One last item to look into is the fees associated with the transfer of your deed. Some businesses charge more than others. Your move is going to be expensive enough without hidden fees! When the time comes to sell your home, find a reliable business to handle your deed transaction. One that is reputable yet won't charge an exorbitant amount of fees! Looking to move? Check out this title company in Ann Arbor: http://www.libertytitle.com.
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