What Is The Difference Between A Title Company And A Closing Attorney?
Sat Mar 30, 2019 on Blog
Video: What Is The Difference Between A Title Company And A Closing Attorney?
FAQ’s With Roy Oppenheim
Full Transcript: Another question we have is, what’s the difference between a title company and a closing attorney? And that’s a very good question because title companies are the ones that provide you with the escrow services and title insurance when you are going to buy a piece of property, or at the same time, when you go in to sell property.
A closing attorney, typically, will be someone who advises you and makes sure that the title company is doing the right thing and that you’re being properly treated, and that if there’s a contract to be negotiated or anything else that needs to be negotiated, that it’s being done properly. In many states, like in Florida, for example though, most title companies are frequently owned by attorneys and so the attorney kind of comes along with the title company.
Either the title company will be owned by attorneys, or in the alternative, the title company will be part of the law firm and they will be providing title services within the context of a law firm. My preference is title companies that are probably owned by lawyers. I think it works better and it seems to be sometimes less expensive and more efficient, but both models work.
Other states have it differently. But frequently, you will see lawyers involved in the real estate process. In New York, a lot of times, the buyer has their own attorney, the seller has their own attorney, the bank has their own attorney, the title company has their own attorney, and sometimes even the realtors have their own attorney. And so, you could go to a closing and you could see four or five, sometimes even six attorneys involved in one transaction.
Seems like a lot of attorneys to do one closing. But a closing attorney, frequently, is someone involved in that entire process. In Florida, frequently, you’ll see maybe two attorneys at most at a closing. So, the difference between a title company and a closing attorney is that the title company will always be the one that’s insuring the title and providing the actual escrow.
The closing attorney may or may not be involved in that process depending on who has hired that attorney.
Who Title Companies Serve
Escrow Services Of Title Companies
Weston Title & Escrow | Attorney Owned And Operated Title Company
2500 Weston Rd #404
Fort Lauderdale, FL 33331
Weston Title & Escrow is a trusted South Florida title company, serving Broward, Miami-Dade and Palm Beach Counties as well as the entire State of Florida since 1994.
Owned and operated by attorneys Roy Oppenheim and Ellen Pilelsky, the founding partners of Oppenheim Law, Weston Title provides highly personalized services in the areas of real estate closings, title insurance, title searches and escrow services.