Select a Title Company

You will need to retain the services of a Title Company to collect and prepare all documentation for a closing and to conduct a thorough search on the deed of your chosen property.  They will be checking public records to ensure that there are no debts, taxes, easements, unsatisfied mortgages, court actions or other claims against the property, other than one by a bank if the Sellers still have a mortgage on the home.  This process will allow you to purchase the home with a “clean title”.  Your Lender will require that you have a title search done and will obtain title insurance (see next paragraph), because they need to ensure that they (and you, as the Buyer) are the only parties with a claim to the property.

They will also provide you with title insurance, which is an insurance policy that provides you with additional protection against any undiscovered claims against the property that were not able to be uncovered during the title search.  Should any such claims be discovered in the future, the Title Company will defend your rights, and the rights of your Lender in court, at their expense, should that ever be necessary. 

You will pay only one premium for your insurance and the policy remains active for as long as you own the property. 

Finally, they will send a representative from their firm, often an attorney, to conduct the actual closing procedures for your purchase, and will walk all parties involved through each document to be signed.  They will handle the filing of all of these documents with the relevant parties who have a legal interest in the transaction, such as the county and the Lender.