What does the title company do when selling my home?
So in Maryland, the title company is the ones that make sure the seller has the the legal authority to sell the property at least as it pertains to the chain of title. In other words, does someone else have a claim to the property, are there liens on the property or for that matter are there any judgements against the seller that have to be squared away when the property sells. Another key aspect, is that they are the people exchanging all the money at the end. I always like to think of them as the person holding the money at a street race. I envision Ludicris in Fast and the Furious passing out the cash. HAHA. The title company collects the money from the buyer and or lender, and then pays off any mortgage or other liens on the property, pays the commissions out, any other invoices like contractors and then pays the balance to the seller.