Arizona Real Estate and Title Companies

A title company plays a tremendous role in Realpaper work in an orderly fashion, and has both the
Estate transactions in Arizona when discussing buyingbuyer and the seller come to the office to sign. Once
or selling property. They are the ones in charge of allall paper work is signed by both parties, the title
of the monies handled between the buyer, seller,company delivers the paperwork to the bank that is
Brokers, and Realtors. They are in charge offunding the loan. The bank which the buyers lender
transferring the title of a home from one party toobtained a loan for the buyer, wires the money to the
another. Title companies are the ones who put thetitle company. This is when all monies are dispersed to
property in your name.the appropriate party. The title company gets the
A Realtors first step after getting an exceptedmoney from the lender, then delivers the money to
contract in Arizona is to open escrow with the titlepay the Realtors, the Loan Officers (if applicable), the
company. The buyer and seller agree in the purchaseseller, and any other party that requires compensation
contract who the title company is going to be. Oncefor being a part of the sale. Of course, the title
this is determined, it is usually the buyers Realtor whocompany takes a cut. Usually the closing costs are
opens escrow because the buyer is the one putting upsplit between the buyer and seller depending on the
earnest money to be lost in case the contract isterms of the contract.
breached.A title company is the battery of the operation, the hub.
Opening escrow means, delivering an exceptedWith out their organization there would be too much
purchase contract with the buyers earnest money toconfusion. If you do not know a good title company to
the title company. Once this is done, escrow is opened,use when purchasing or selling Real Estate in Arizona,
and that is the beginning of the purchase contract.please ask a qualified professional Realtor to suggest
Title companies in Arizona are the ones who receiveone. The title company deals with every person
the money from the buyer or the buyers lender to giveinvolved in the transaction. It is important that a title
to the seller and/or payoff the sellers lender. The sellercompany has organization, and great communication
must provide who their current mortgage is through soskills. A good title company will notify the appropriate
that the title company can pay off the balance of yourparty when something may be wrong so that it may
loan. After the loan is paid off, and the closing costs,be fixed by the right person.
the seller gets what is left over which is called theIt is important to develop a relationship with a good title
sellers proceeds. However, if a the person selling hascompany. Once a relationship is built, you begin to
no mortgage there is nothing to pay off except closingknow how each works, making the job a little easier.
costs.You will know the title companies phone numbers,
There is paperwork that the buyer and the seller neednames, fax numbers, and e-mail addresses by heart. If
to sign in order to successfully complete a Real Estateyou are always using a different title company, it is a
purchase contract. The title company organizes thenew set of information to learn.