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This post is to shed some light on what is often the most confusing part of the home buying process – titles and closings.

What Exactly is a Title?
When you purchase a home, you obtain more than just the keys and the ability to move in. An important document you receive is called the title. This legal document states you officially own the home and land it sits on. No one can rightfully occupy or make changes to the property without the title holder’s permission.

At Accufunds Financial, we explain that titles authorize owners to use the property as permitted by local zoning laws. The title also provides protection against certain disputes over the land in the future.

How Does the Closing Process Work?
During a closing, which typically occurs at a title company, the legal transfer of the real estate’s title from seller to buyer takes place. But before you get the keys, several steps must happen:

The buyer and seller agree on which title/closing agency will handle the transaction. My agents often recommend reliable companies here in Orlando that we have existing relationships with.
The buyer reviews and approves the Closing Disclosure Form itemizing all the final terms, fees, taxes, etc. This is a binding legal document, so it’s critical buyers understand it completely prior to signing.
The seller provides legal documents proving they hold clear title to the property. Title issues get addressed at this stage.
The buyer provides down payment funds and lender fund the remainder of the purchase price.
The title company pays the seller, registers the title under the buyer’s name, and the buyer receives the property keys!
Have More Questions? Speak to Accufunds Financial Experts

As a homebuyer, we know titles and closings can be confusing at first. But our team has extensive experience guiding buyers through each step. Reach out if you need any help understanding the process before purchasing a home here in Orlando!

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