Selling a Home for Cash: Why Do Sellers Need a Title Company?

Selling a Home for Cash: Why Do Sellers Need a Title Company?

When selling a property, both parties involved look to make profit. On one hand, the seller wants the best value for his or her house. On the other hand, the buyer wants to purchase it at the lowest price possible. An intermediary is necessary to protect the buyer and the seller and ensure a smooth home sale. 

That’s where a title company comes into the picture. It serves as a state-regulated agent that makes sure sales work in favor of both parties. Whether you want to sell, buy, or refinance a property, a title company can help. 

Do you want to sell your house fast in Livonia? If yes, you must have detailed information about each step and process or hire cash home buyers in Livonia like Detroit Cash For Homes. We offer fast and hassle-free home sales. 

Most sellers are confused about why they need a title company. If you have similar queries, you are at the right place. Below, we have explained why you need a title company during a sale. 

  • How does a title company help in selling a home?

    • Validating contracts 
      Once you accept a cash offer from Detroit Cash For Homes or another buyer, the next step is to sign a contract. It includes the details of the agreement that must be met before closing the sale. Here, a title company will help you review and validate the contract. In addition to this, they will offer legal documents relevant to the sale. Title companies have a team of real estate attorneys to scrutinize the agreement and protect the seller’s interests. 

    • Conducting title searches 
      Another crucial role of a title company is to perform title searches. In this, they will check government records and other resources to ensure your house is free from pending legal issues. While it may seem more beneficial to buyers, you can also take advantage of the perks. After all, if your house has any problems, it can cost you time and money. 

    • Assisting with lien negotiation 
      Dealing with a lien can be a complicated and time-consuming process. Therefore, a title company can help you negotiate a solution for liens. Whether you face an unknown claim during your divorce proceedings or other unnecessary claims, a title company assists you in finding a suitable solution. 

    • Opening an escrow account 
      Opening and maintaining escrow accounts for sellers is another responsibility of a title company. This account helps sellers protect their down payment and any money involved in transactions. Remember, no one can access this money unless a title company allows it. 

    • Facilitating closing process 
      If everything looks good with your house, the last step is closing. Usually, a title company serves as an intermediary between the buyer and seller and handles things efficiently. Besides this, they will make sure you sign all the necessary documents to release funds from an escrow account. 

In closing 

In this article, we learned that a title company plays an essential role in selling a home. Their primary purpose is to safeguard the interests of both parties while simplifying and legalizing the closing process. If you need a fast and hassle-free sale, hire a Livonia estate home buyer, such as Detroit Cash For Homes. We buy houses in any condition in Livonia without time-consuming and costly improvements. On average, we close deals in 7 seven days. We will also help you hire a reliable title company. With years of experience in the field, we have good contacts with other real estate professionals. 

If you are searching for the best cash home buyer for selling a home, contact Detroit Cash For Homes. We buy houses in Livonia at a guaranteed fair price.