During a real estate transaction, there are many different parties involved. Each party plays an essential role in the process. Two essential parties in the transaction are the title company and the insurance company. As a result, it makes sense for two companies from the two industries to build a partnership. Here is why:
The Title Company’s Role
When it comes to most real estate transactions, the title company plays several vital roles. They generally act as the combined agent of the buyer, seller, and insurance company. In some cases, the title company will also serve as an agent for the mortgage lenders. The company is not only responsible for reviewing the title. They also assist in issuing insurance policies, facilitating the closing, and filing/recording necessary paperwork.
Why The Title Company Should Partner With a Reliable Insurance Company
Obtaining insurance for a real estate transaction is crucial, and in some cases, required by law. When a title company is in any time crunch situation, they’ll wish that they had a reliable insurance company to help them solve any issue quickly and professionally. This is why working with a reputable, experienced insurance company is key. It could be the difference between sealing the deal and a deal falling through.
Furthermore, a reliable insurance company can help the title company by ensuring the policies needed are correctly in place and legitimate. Considering that the title company is responsible for facilitating the paperwork involved in insurance policies, it would be great to know that the paperwork is correct without going back to the insurance company for multiple corrections.
Are you looking for a reliable insurance company to partner with? Look no further than Leigh Agency. We have over 30 years of experience working with title companies on real estate transactions. You, and your clients, can rely on us! Give us a call today.