Updated about 5 years ago on . Most recent reply
Property Transfer please help i'm new to the area of real estate
Hello all my name is Erick I am in the Virginia Richmond and I was hoping I can get some help. I am purchasing a property from someone and am now ready to transfer it to my name. Is it something I can do myself or do I have to use a company ???
Most Popular Reply
Hi @Erick Gonzalez,
Are you purchasing the property cash or financing it? Are you using realtors or is this a for sale by owner? What type of deed is conveying the title? Typically, a title company is used to:
Search title history to uncover any claims or liens on the property, or a potential cloud on the title.
Hold onto earnest money or other monies involved if a broker is not doing so.
Provide title insurance to protect the new owner (you).
Closing, final signatures and ensuring paperwork is in order.
If you do not use a title company then you will need to take care of these items yourself, unless you are using a quitclaim deed or warranty deed, I would highly recommend it.