The role of the real estate title insurance agency is perhaps the most important in any real estate transaction: ensuring that the closing occurs. The title agency can handle all aspects of the closing process from start to finish, from collecting escrow funds to filing closing paperwork with the appropriate government agencies. This is why it is critical to conduct thorough research and select an agency with which you are comfortable and that provides all of the services you require.

Title Insurance Agency Responsibilities

The title insurance company has many responsibilities to ensure that the closing goes smoothly and on time. The title agency's responsibilities can and do include the following:

• Collect, hold, and/or disburse escrow funds; conduct a title search; issue title insurance; order a property survey; coordinate and review lending documents; prepare the new deed; facilitate the closing; and file closing paperwork with appropriate government agencies.

Several Service Providers

Agencies that provide multiple services are typically more established and experienced, with knowledgeable staff who understands the ins and outs of real estate closings. These agencies run like a well-oiled machine, with everyone doing their job with ease and the implicit understanding that comes with working alongside the same people in every transaction.

Title insurance agencies that offer closing, escrow, and notary services all in one location will save you time and money because you won't have to coordinate with two, three, or more different service providers. Ensuring that everything is in order for a closing is difficult enough. Trying to coordinate schedules and share information with multiple service providers makes it much more difficult to keep the closing process on track, increasing the possibility of delays and mistakes.

Notary and Escrow Services

Other than title services, you should ensure that your title insurance agency provides escrow and notary services.

You will need an escrow holder to act as a neutral third party, hold funds, and disburse them once all parties' closing requirements have been met. It is advantageous to have your title agency act as the escrow agent because they are already a neutral third-party service provider who is aware of all closing instructions, requirements, and progress toward the closing.

Notary services are required to witness the signing of many closing documents, regardless of where your closing takes place. Because notary witnesses are required for closings, many title agencies will have at least one notary on staff. Title agency notaries have specialized training and experience notarizing escrow and mortgage loan documents. They are known as notary-signing agents.

The notary will ensure that the signatures are genuine, that the signers are who they claim to be, that they understand what they are signing, and that no one is signing under duress.

As a convenience to their customers, many title agencies provide escrow and notary services, which eliminates the need for you to find such service providers on your own. This saves you time and alleviates some of the stress that can accompany a real estate closing.

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