In this article, we are featuring our sister company, Clear2Close Title & Escrow, a Florida Title Company located in Lantana, Palm Beach County, Florida.
Clear2Close Title & Escrow handles the legal process of transferring ownership of a piece of real property from one person or entity to another. This process is known as “title transfer” and is an important step in the process of buying or selling real estate. In Florida, title companies are regulated by the Florida Department of Financial Services and they are required to follow strict rules and procedures in order to ensure the accuracy and integrity of the title transfer process.
What Does Clear2Close Title & Escrow Do?
One of the main responsibilities of Clear2Close Title & Escrow is to perform a thorough title search on a piece of real estate before it is sold. This involves reviewing and examining public records, such as deeds, mortgages, and liens, to determine the legal ownership of the real property and any outstanding issues or claims that may affect the ownership. Clear2Close Title & Escrow will also review any covenants, conditions, and restrictions (CC&Rs) that may apply to the real property, as well as any zoning regulations or other legal requirements.
Once the title search is complete, Clear2Close Title & Escrow will prepare a title commitment report, which outlines any issues or encumbrances that may affect the title to the real property. This report is provided to the buyer and the seller, as well as their respective attorneys and real estate agents, to help facilitate the closing process.
Another important role of Clear2Close Title & Escrow is to act as a neutral third party in the closing process. This means that Clear2Close Title & Escrow is responsible for holding and disbursing funds, preparing closing documents, and coordinating with all parties involved in the transaction. Clear2Close Title & Escrow is also responsible for issuing the title insurance policy, which protects the buyer and the lender against any potential title issues that may arise after the sale.
In addition to its role in the closing process, Clear2Close Title & Escrow may also offer a range of other services, including:
- Escrow services: An escrow service is a secure way to hold and disburse funds during a real estate transaction. Clear2Close Title & Escrow can act as an escrow agent, holding funds in a secure account until all necessary documents have been signed and the transaction is complete.
- 1031 exchanges: A 1031 exchange is a tax-deferred real estate transaction that allows an investor to sell one property and use the proceeds to purchase another property without paying capital gains taxes. Clear2Close Title & Escrow can assist with the process of setting up and completing a 1031 exchange.
- Construction disbursement services: If you are building a new home or making major renovations to an existing property, Clear2Close Title & Escrowcan help manage the disbursement of funds to contractors and other service providers.
- Refinancing: If you are refinancing your mortgage, Clear2Close Title & Escrow can assist with the process of transferring the title to the new lender.
As you can see, the role of Clear2Close Title & Escrow is multifaceted and critical to the smooth operation of the real estate market. Whether you are buying, selling, or refinancing a property in Florida, it is important to work with a reputable title company, such as Clear2Close Title & Escrow that has the experience and expertise to handle all of your title and closing needs. Call us today @ 561.600.0448. We close all of Florida!