Requests a Title Report And Policy

Ø Title Report:  A report showing the condition of title before a sale or loan
  transaction.  After completion of the transaction, a title insurance policy is
  issued.

Ø Title Policy:  Title insurance is insurance against loss resulting from defects of
        title to a specifically described parcel of real property.  Defects may run to the
        fee (chain of title) or to encumbrances on the property.
           (You will want to ask your title officer for an explanation of any exceptions listed on the preliminary title report)

Drafts A Deed Of Trust

Ø    Deed of Trust:  A document filed with the county showing a property is
  transferred to a trustor by the borrower (trustee) in favor of the lender
  (beneficiary) and reconveying upon payment in full.

Pays Off Existing Loans

Ø    The title company pays off any existing loans and lien holders.

Taxes And Insurance

Confirms Hazard Insurance

Coordinates Signing Of Documents

Ø    Oversees the Buyer and Seller in signing all necessary documents to close the
  escrow.

Recording Documents

The title company records the appropriate documents such as the deed and lender’s required documents, with the county recorder’s office, giving public notice.

Disbursement

Ø    The title company disburses the documents & money to each party involved,
  pursuant to the instructions of the parties.