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4;1 Discussion board

The title company is an insurance agency representing the title insurance firms that has

insured the lenders and the buyers. The aim is to prevent a financial loss, which is possible in the

real estate dealings. It, therefore, involves the insurance for all the transactions and any event

including an error occurring or other omissions. For the title insurance company to enable the

insurance of the closing, it requires the services of an insured closing agent who represents the

company. Therefore, one goes to the title company to close their deals. The entire insurance

process makes the title company a costly process due to the high rates of the premium payment

to cover the losses.

In the absence of the title company, the next option of closing the real estate transaction

is through the office of the attorney. The attorney begins by submitting a resume to the insurance

company, which in my opinion is a necessary step in approving him or her. In some cases, there

is a financial bond requirement that must be met, which necessitate the need to insure the closing

with the agent (The Virginia State Bar 1). Usually, a practice of the law is significant in such

transactions. The attorney, in this case, goes a step further, not necessarily, because they are

insured closing agent, but because they get some payment for closing the requirement of the

company. I agree that it is better to transact through the attorney rather than through the title

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Surname 1 Name Course Tutor Date 4;1 Discussion board The title company is an insurance agency representing the title insurance firms that has insured the lenders and the buyers. The aim is to prevent a financial loss, which is possible in the real estate dealings. It, therefore, involves the insurance for all the transactions and any event including an error occurring or other omissions. For the title insurance company to enable the insurance of the closing, it requires the services of an insured closing agent who represents the company. Therefore, one goes to the title company to close thei ...
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