Title Company Or Attorney-Which Is Better To Buy/Sell Property

Q: I am getting into real estate investing. Do you think it’s better to close with a title company or an attorney? Nick, Essex Fells, NJ

A: In a real estate transaction, title companies and attorneys serve different purposes. Title companies provide administrative assistance and handle the title search, ensuring the seller has the legal right to transfer ownership, and provide title insurance to protect the buyer from potential title defects and handle the paperwork and coordinate the closing process, while attorneys are trained to provide legal advice.  The services that title companies provide in a residential real estate transaction are essential; closings in the local real estate markets I work in often occur at the buyer’s title company’s office.  It is generally cheaper to work with a title company than with a real estate attorney, but an attorney’s expertise may be helpful in navigating complex legal issues that may arise in a real estate transaction.  The choice to use a title company or attorney in a real estate transaction should be based on how competent and experienced the specific attorney or title company is.  Make sure whoever you choose to work with, whether it’s a title company or an attorney, has lots of practical experience working in the local real estate market where the property you’re buying or selling is located. Thanks for your question, Nick.

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