Day in the Life of an Escrow: Title Officer
by Tanaz Akhlaghi on February 23, 2010*this is Part Five in a five-part series on the escrow process. Special thanks to Michael McKeon for sharing his insights on this intricate process.
Last season I wrote about how the buyer navigates the escrow process when shopping for a new home. A few weeks later I followed up with a feature on the day in the life of a seller during the escrow phase. I also wrote about what an escrow officer does behind the scene to help make sure that things run as smoothly as possible. In part four of this series published last month, I wrote about the role a lender plays in the escrow process and the importance of working with an ethical lender who has your best interest at heart.
So, how does the Title Officer fit into the picture?
⬀ At the beginning of a transaction, the title company receives an order for title service.
⬀ Public records affecting the real property and the Preliminary Title Report are examined.
⬀ Based on their findings, Title determines what particular documents or requirements are necessary to complete a transaction.
⬀ Prior to the closing date, Title officer reviews and approves all signed documents and releases the order for title insurance.
⬀ Once the Escrow Officer gives authorization, Title prepares to issue title insurance policies and records signed documents with the County Recorder’s office.
We’ve had the opportunity to take a peak into the lives of a Buyer, Seller, Escrow Officer, Lender and Title Officer during the escrow process, and we’ve seen how they all play a crucial part in facilitating a smooth and successful transaction. With clear communication between all parties, your buying and selling experience will be seamless and enjoyable!
I hope you’ve enjoyed the series of a Day in the Life of an Escrow. Have you recently been a Buyer or Seller in a transaction? How was your experience with your lender, title and escrow officers? Please share your thoughts. I would love to hear from you!
In the video below, Chicago Title’s Michael McKeon explains title insurance, why you must have it if you are getting a loan on the purchase of your property, and what to look out for when purchasing title insurance.
Related Articles:
Day in the Life of an Escrow: The Buyer
Day in the Life of an Escrow: The Seller
Unlike your car insurance, title insurance is a one-time up front fee paid when a home is purchased and remains in effect until the home is sold. However, if you refinance your home, the lender will require you to get a new lender’s policy.
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[...] clients with whom you best “fit.” It doesn’t matter if you’re writing a 5-part series on what really happens behind the scenes of an escrow process, or if you’re filming a video on bike valets in Santa Monica. Either way, you’re a [...]
[...] of clients with whom you best “fit.” It doesn’t matter if you’re writing a 5-part series on what really happens behind the scenes of an escrow process, or if you’re filming a video on bike valets in Santa Monica. Either way, you’re a [...]