Hi, I’m Beth with TB Properties Buys Land. Today we had a question about title companies. How does TB Properties Buys Land select a title company in order to close a transaction? That’s a great question. First of all, TB Properties Buys Land always purchases your vacant land with cash and we always close through a Title Company. Closing through a title company provides safety for both sides of the transaction. For you as the seller, it allows you to know that you’re going to get paid for the transaction because we as the buyer have to wire certified funds to the title company, and they will pay you through the transaction. We also know that the paperwork’s going to be done correctly. When it comes to the selection of the Title Company, some counties are big enough that they have multiple title companies within that county. On the other hand, some counties are pretty small and they might only have one or two title companies.
When we are selecting a title company, to us, it’s important that the title company is licensed to transact within the county where your property is located. Most likely they know the county, they’re there at the courthouse, they do recordings regularly. It’s going to be easier for them to (hopefully!) close the transaction, because they’ll have easier access to the information. Now, if for some reason, you have closed through a different title company in the area and that’s something that you prefer, we’re happy to work with any title company so long as they are licensed to transact within the county where your property is located. If you have a preferred title company that you want to work with, feel free to let us know. We’re happy to work with you and we’ve selected Title Companies based upon sellers’ preferences several times before.
Some title companies have offices within multiple areas. This can mean that if you’re out of area, and the title company is large enough to have multiple branches, you might be able to go ahead and close locally to closer to where you are living now. Still, the Title Company would need to have a licensed office in the county where your property is located.
Nowadays, especially with the advent of COVID, they offer remote closing options, which is really nice and very convenient. What this means is that, if you’d prefer to close remotely, the title company can overnight you documents that you would take to a notary and sign in front of them, perhaps a notary at your bank that provides the free service of notarizing documents, or at your local FedEx / UPS store. Once you sign the paperwork and get it notarized in front of the notary, you take the documents and the prepaid shipping UPS or FedEx label provided by the Title Company and you’re able to drop them off at the post office or local PackMail so that you can overnight those documents back to the title company and they can close that way.
Title will ask you if you want your check mailed to you overnighted, or if you want it wired directly to your bank. They will be in contact with you directly so that you feel you are safe and secure and that you are truly a part of the transaction. Hopefully this answers any questions you might have regarding the Title Company selection process. Always remember that when it comes to selling your property, you have the right to ask questions and make decisions regarding how the transaction goes down. If you would like us to provide you with a quote on the sale of your bare land, please feel free to reach out to us. We look forward to hearing from you.