The exact division of labor may vary slightly depending on the state you complete a transaction, but here is a quick breakdown of each. While a title agent in one state may perform the duties of what would be considered the function of an escrow officer in another state, each of these terms conveys specific functions of these professionals. Title, closing, and escrow are often used as interchangeable terms, but there are important distinctions between them. Issue title policies to the appropriate parties.Ensure the recording instruments listed in the title commitment are properly recorded after closing.Prepare settlement statements and other documents before closing.Conduct a property survey, when needed, to discover and resolve any potential encroachments or problems with the legal description.Produce and follow the title commitment to resolve defects and set forth exceptions to the policy.Search for judgments, bankruptcies, restrictive covenants, easements, or leases that encumber the property, require payment from the proceeds of the sale, or prevent the transaction from taking place.Look for other outstanding bills that could become a lien, like unpaid HOA dues.Find any outstanding unpaid liens like mortgages, tax liens, or mechanic’s liens.Prepare or obtain a preliminary title report or abstract of title.Conduct a title search to establish the record of ownership and determine who has a right to sell the property.They act as a neutral third party to facilitate the closings of real estate transactions between buyers, sellers, and lenders.īefore the title insurance policy can be issued, a title agent will usually do the following: After the purchase agreement is signed, title agents become involved in the transaction.

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